Locke Lord is a proud sponsor and Kathleen Swan and Ben Sykes will attend the OnRamp Insurance Conference on April 11 at the Target Center in Minneapolis-St. Paul. OnRamp is one of the leading conferences for insurance innovation. If you are planning to attend, please stop by Kiosk #21 or contact one of our attendees to set up a meeting. For more information, click here.
Read MoreNew York Partner Zachary Lerner authored an Insurance Journal article on unique challenges to consider when buying or selling an insurance agency.
Read MoreWhile you were off changing the industry, you may have missed these important developments
Read MoreLast night Locke Lord and the Hartford Insurtech Hub teamed up to bring the Hartford community and the Hub’s startups a crash course on term sheet negotiation. Led by Locke Lord’s Kathleen Swan (Chicago) and Julie Mahaney (Hartford), and moderated by Alan Levin (Hartford/New York), the group presented on, and walked through a mock negotiation of, term sheets for Convertible Promissory Notes and Series A Preferred Shares.
Read MoreYou have now raised capital initially using a Convertible Promissory Note and soon, your Series A Preferred Stock; you now have a Board of Directors with three members – and there may be five including one or more Independent Directors; you are further expanding your management team – and have established an Option Plan under which you can issue both ISOs and NQSO.
Read MoreWhile you were off changing the industry, you may have missed these important developments
Read MoreYou are executing on your strategic plan; you have a fully developed product; you have expanded your team; you have deployed ALL the proceeds from your initial Convertible Notes; and you need additional capital to further scale the Entity.
Read MoreWhile you were off changing the industry, you may have missed these important developments
Read MoreYou have a strategic plan; You have an MVP; You have a Team; and You have an Investor!
Both you and the Investor believe in the potential of the Entity. What the exact “potential” is, however, still a matter under discussion.
You hope that the Entity will grow quickly and you will need to sell less equity for the cash you need to scale; the Investor wants to maximize its return – including being well compensated for investing early on and providing essential early-stage funding and support.
However, the truth is that you need money NOW!
What to do?
Read MoreThe Firm will co-sponsor “Take It or Leave It: Live Term Sheet Negotiation from Both Sides of the Table” with the Hartford InsurTech Hub at the Spotlight Theater in Hartford, CT on March 28th.
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