Add-On Acquisitions in Lower Middle Market Private Equity
While the second quarter of 2020 continued a COVID-propelled downward trend in M&A deal activity, there was a sharp increase in the proportion of sponsor-backed “add-on” acquisitions relative to overall deal volume.
IRS States That DFS Operators Are Liable For Excise Tax
A recent IRS Internal Memorandum has ruled that DFS operators must pay federal excise taxes on entry fees, a viewpoint that, if enforced, could have widespread effects on the fantasy industry.
The Mechanics of Converting Convertible Notes
Convertible notes are a great tool for venture financing, however, the actual mechanics of converting convertible notes is not a simple task and requires great care.
Advisor Exclusions
There are some specific exclusions from the SEC and Texas state rule for what constitutes an Investment Adviser.
Buying What You Are Selling
Unless there is an exemption, an Investment Company needs to file with the SEC and make certain disclosures to investors.
The Advice You Give
Generally, any time you are giving advice you need to register. Attorneys, accountants, psychologists, etc. There is no difference when you are giving advice on securities.
The Basics of Convertible Notes
The convertible note is a favorite investment vehicle for many founders and investors alike. This post outlines the key terms and explanations with regard to raising capital through or investing via a convertible note.
Negative Covenants in Lending Transactions
In corporate loan agreements, negative covenants are restrictions and prohibitions that are designed to preserve the credit of the borrower as it was when the lender initially made its underwriting decision.