StructuringaStart-upTransaction(英文版)(pdf21页)分析.pdf

Session 12 - Structuring a Start-up Transaction �All common stock deals �Alernatives to all common stock deals �Restricted stock �Structuring a start-up as a flow-through entity (S corp, partnership) when venture capital money is used. 15.518 Fall 2002 Session 12 Structuring a Start-up Transaction �Basic Setup: • Your team (TEAM) has just won the 50K Competition • A local venture fund principal impressed by your product’s potential, approaches you with an offer to invest $10 million in your concept. • You make an appointment for the following week to go over your proposed structure for the new company. 15.518 Fall 2002 Session 12 Structuring a Start-up Transaction TEAM VC Ideas/Expertise $$$$$ Start-up 15.518 Fall 2002 Session 12 Structuring a Start-up Transaction �TEAM Proposal: All Common Stock VC TEAM Amount invested $10 million Ideas Expertise Stock received 49,000 shares 51,000 shares �Does the VC fund accept your proposal? �If they do, should you be pleased with your negotiated p