SAFEs for Startup Financing: Benefits, Risks, Processes, and Avoiding Pitfalls
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Course Details
- Format
Live online with interactive Q&A
- Difficulty Level
Advanced
- Practice Area
Litigation
- Date
Wednesday, December 4, 2024
- Time
1:00pm-2:30pm EST
- Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE webinar will discuss the use of a simple agreement for future equity (SAFE) in early-stage financings for startup companies. The panel will discuss how SAFEs have fundamentally changed the speed and simplicity of early-stage fundraising. The panel will also discuss how the SAFE has evolved since its introduction by Y Combinator in 2013 and how despite its simplification, a SAFE may be neither "safe" nor "simple."
Faculty
Ms. Hallsten represents emerging and established companies in a variety of practice areas, including general corporate, securities, corporate governance, private debt and equity financings, venture capital, mergers and acquisitions, and public offerings. Her client base covers many industries, including technology, health care, insurance, business services, life sciences, retail, publishing, professional services and real estate. Prior to joining the firm, Ms. Hallsten served as a staff attorney in the Division of Corporation Finance of the Securities and Exchange Commission in Washington, D.C.
Mr. Ross focuses his practice on securities law, venture capital and private equity, and corporate governance. He has extensive experience advising as to SEC-registered and exempt capital markets transactions. Before founding Ross Law Group in 2013, he worked at Sidley Austin and Alston & Bird, as well as the Department of the Treasury, where he was part of the Troubled Asset Relief Program. Mr. Ross is the host of the American Bar Association podcast VC Law, and has served as an adjunct professor at Brooklyn Law School for the past five years.
Mr. Willbrand is an experienced chief legal officer, tech executive, trusted advisor, and deal lawyer. Prior to joining Pacaso, Mr. Willbrand founded, grew, and chaired one of the most prominent startup and venture capital legal practices in the Midwest. He also previously worked in the software industry and held the dual role of CFO and General Counsel at a series of venture-backed companies. Mr. Willbrand is the author of "Seed Deals: How to Grow from Startup to Venture Capital," and teaches at the University of Michigan, Ohio State University, Syracuse University, and University of Cincinnati Colleges of Law.
Description
In October 2023, California enacted separate pieces of legislation detailing the new climate disclosure rules for public and private companies with operations or dealings within the state of California. These new rules and requirements impact a number of energy companies and their investors, forcing them and their counsel to navigate these new requirements, monitor and collect data, and file reports in order to comply with these new rules. Taking advantage of the opportunity to set mandatory and comprehensive risk disclosure requirements aimed toward sustainability within the enegy sector, Calfiornia enacted the Climate Corporate Data Accountability Act (SB 253), the Greenhouse Gases: Climate-Related Financial Risk (SB 261), and the Voluntary Carbon Market Disclosures (AB 1305). Collectively, these rules are the first of their kind and set the standard that other states may move towards with similar measures. In light of these new rules, counsel must determine (1) which companies are considered to be "covered entities" and "doing business in California," (2) what data must be monitored and collected, and (3) best practices for navigating the reporting requirements and implement protocols to ensure compliance. Listen as our panel discusses California's new climate disclosure requirements under SB 253, SB 261, and AB 1305, their impact on companies, reporting obligations, recent legal actions, and next steps for renewable energy companies and investors.
Outline
- I. Overview of California climate disclosure requirements
- II. Senate Bill 253
- III. Senate Bill 261
- IV. Assembly Bill 1305
- V. Compliance; collection of data, reporting
- VI. Next steps for companies with California operations and dealings
Benefits
The panel will discuss these and other key issues:
- Impact of California's climate disclosure requirements on renewable energy projects and operations
- Determining what companies are "covered entities" in light of the new rules
- Key provisions of SB 253 and next steps for impacted companies
- Complying with SB 261 and potential challenges for impacted companies
- Next steps for renewable energy projects, operators, and investors
Banking & Finance Law Advisory Board
Thompson Hine
Northeastern University School of Law
Alston & Bird
Paul Hastings
Davis Wright Tremaine
Mayer Brown
Burr & Forman
Weil, Gotshal & Manges
Stradley Ronon Stevens & Young
Team
Training
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