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04.28.20
Considerations for Angel and VC Funded Startups and Emerging Growth Companies Considering a Loan under the Paycheck Protection Program
By Procopio Partner Roger Rappoport and Associate Yeshaya Larkin, with peer review by Partner Paul Johnson What are the eligibility criteria most likely to be of concern to emerging growth companies funded by angel or institutional investors considering funding from the Paycheck Protection Program (“PPP”)? As entrepreneurs look to weather the economic disruption caused by the COVID-19 pandemic, we address this key question and many others in this overview of one of the most significan...
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06.21.19
Changes in Convertible Instruments for Early Stage Financings
By Procopio Partner Roger Rappoport and Senior Associate Aaron Sokoloff There are currently two main types of convertible instruments that are in widespread use for pre-Series A and other “bridge” financings: convertible promissory notes and SAFEs (Simple Agreements for Future Equity). Each of which are alike in that the amounts invested under the applicable instrument convert into shares of the issuing company in question, upon the happening of certain events, which is most often a s...
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