This course provides a comprehensive overview of preferred stock financings, including the processes of drafting and documenting the financing documents. Participants will learn about the key terms and provisions typically included in these financings, as well as how to negotiate terms from the perspectives of founders and investors.
Conducting and Documenting a Preferred Stock Financing
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Upon completion of this course, participants will be able to:
- Identify the funding rounds generally used by start-ups, focusing specifically on the characteristics of Seed and Series A funding rounds
- Explain the key features of preferred stock, including advantages to investors such as liquidation preference, anti-dilution mechanisms, and implications for voting and control
- Describe the process for conducting a preferred stock financing, including drafting key legal documents such as an amended and restated certificate of incorporation, an investor rights agreement, a voting agreement, and a right of first refusal/co-sale agreement
The AltaClaro Difference
Effective Learning with ROI--Backed by Education Science
Step 1: Learn
Learn at your own pace, absorbing lessons in short, easily digested segments led by experienced practitioners.
Step 2: Do
Apply what you've learned to solve real-world client scenarios, using transaction documents derived from actual deals.
Step 3: Review
Deepen your learning in virtual review sessions with an experienced practitioner. Review model answers and ask questions.
Step 4: Build
Leverage performance insights from Benchmark360 to deliver partner-led, in-person internal workshops tailored to your firm's preferred way of practicing.
Class Content Overview
Level: Basic/Intermediate
This class is suitable for attorneys who have a general interest in start-up financing and wish to deepen their understanding of preferred stock financings, but have not had extensive practical experience in this area. It is recommended that prior to taking this course, participants: (1) complete AltaClaro’s Fundamentals of Structuring and Advising a Start-Up Company and/or have a general understanding of start-up funding rounds; and (2) complete AltaClaro's Essentials of Contract Drafting and/or have some familiarity with contract drafting.
Course Details
2 CLE Credits are available for each course.
Participants will be introduced to their client, a venture capital fund backed by a group of angel investors. Participants will update a term sheet to reflect the deal terms between the investment fund and the start-up it seeks to invest in.
Instructors Who Practice What They Teach
Our vetted instructors are global practitioners with outstanding professional and educational qualifications and demonstrated achievement in their fields. All have 10+ years Big Law experience.
In addition to their accomplishments as practitioners, our instructors are also passionate about teaching. We carefully interview instructor candidates to assess personality, domain expertise and effectiveness in the classroom. Our instructors must maintain a 4.5 out of 5 rating from students.
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