Using Convertible Notes and SAFEs in University Startup Licensing: Strategy and Tactics for Equity Alternatives

Licensing

Using Convertible Notes and SAFEs in University Startup Licensing: Strategy and Tactics for Equity Alternatives

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What’s included

Access to the on-demand video with closed captions and presentation materials.

This program will provide you with the understanding of the structure of convertible notes for seed-stage financing

$197.00

This program is designed to provide participants with:

An understanding of the structure and strategic objectives of convertible notes and SAFES
Tools to evaluate and compare convertible instruments
Examples of how convertible notes may be used effectively in university start-up licenses
Strategic guidance on appropriate terms and triggers for converting debt to equity
Prompts for internal and external discussion about how convertibles may fit into a university start-up licensing program

Convertible promissory notes, SAFEs, and other convertible instruments are very widely used in early-stage venture capital rounds. Unlike an early-stage (“priced round”) stock investment, these convertible instruments are frequently designed to defer the challenging task of valuation to a future time.

When a university takes equity in an early-stage company, it faces a similarly challenging set of tasks in working with an uncertain valuation. And while the challenges faced by early-stage investors and university equity holders may be similar, university TTOs often request equity with anti-dilution rights, rather than using convertible instruments. By doing so, they may miss out on many of the protective and advantageous features of a convertible instrument.

Benjamin Kern, partner with Winston and Strawn, will provide you with the understanding of the structure of convertible notes for seed-stage financing. Mr. Kern will also define critical terms and identify causes for converting debt to equity.

Program Leaders

Partner Winston and Strawn

What’s included

Access to the on-demand video with closed captions and presentation materials.

This program will provide you with the understanding of the structure of convertible notes for seed-stage financing

$197.00

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