The Problem: The Dreaded Liquidation Overhang Convertible promissory notes and SAFEs (Simple Agreement for Equity) (let’s call both of these “convertible instruments”) are used regularly to raise capital in the early stage company space. It’s not uncommon for convertible instruments to have what’s called a “valuation cap.” Valuation caps set the maximum valuation at which...

RISCPA will be hosting Eric S. Rosengren, President and CEO of First District Federal Reserve Bank, Boston. Dr. Rosengren has held several senior positions over a number of years with the Federal Reserve Bank, Boston including in areas of research and banking supervision functions. His current term as President began in 2007 and he is...

Estate planning attorneys see a two-word change in the federal law governing special needs trusts as making a dramatic difference in meeting the needs of clients who suffer from disabilities. Last month, President Obama signed into law the Special Needs Trust Fairness Act, an amendment to existing law that will now allow people with disabilities,...

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