Events

On May 21, 2020, Partners Paul Hughes and Evan Kipperman and Counsel Adam Silverman participated in a Virtual Round Table for Accelerator for Biosciences in Connecticut (ABCT).

The Virtual Roundtable included two workshops:  “Mock Negotiation for your Fundraising Term Sheet;” and “Boards of Directors.”

“Mock Negotiation for your Fundraising Term Sheet” was presented by Paul Hughes and Evan Kipperman. Beginning with an overview of the precursors to term-sheet negotiation, including an assessment of when a venture is ready to move to this stage, the workshop progressed to a role play in which Paul took the part of an investor ready to provide funds and Evan acted as the CEO of a venture hoping to structure the terms of the investment in the optimal way for his company and his own role. Factors discussed included company valuation, agreement on milestones, composition of the Board of Directors, and the capitalization table.

“Boards of Directors” was presented by Adam Silverman. Adam reviewed the purpose of the Board from a corporate governance perspective, the composition of the Board and how it changes over time, issues that can arise within or because of a Board, how to prevent them and how to address them. The different guidelines pertaining to independent Directors versus Directors employed by the company and Directors representing investors were reviewed, as well as the involvement of company founders and how that may evolve as the company grows

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