Tech Transfer Central

Using Convertible Notes and SAFEs in University Startup Licensing: Strategy and Tactics for Equity Alternatives

Format: On-Demand Video/Transcript, or DVD
Originally presented: Tuesday, April 5, 2022
Price: $197
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Convertible promissory notes, SAFEs, and other convertible instruments are very widely used in early-stage venture capital rounds. Unlike an early-stage (“priced round”) stock investment, these convertible instruments are frequently designed to defer the challenging task of valuation to a future time.

When a university takes equity in an early-stage company, it faces a similarly challenging set of tasks in working with an uncertain valuation. And while the challenges faced by early-stage investors and university equity holders may be similar, university TTOs often request equity with anti-dilution rights, rather than using convertible instruments.  By doing so, they may miss out on many of the protective and advantageous features of a convertible instrument.

This webinar is designed to provide attendees with:

  • An understanding of the structure and strategic objectives of convertible notes and SAFES
  • Tools to evaluate and compare convertible instruments
  • Examples of how convertible notes may be used effectively in university start-up licenses
  • Strategic guidance on appropriate terms and triggers for converting debt to equity
  • Prompts for internal and external discussion about how convertibles may fit into a university start-up licensing program

Plus, consult with our expert and get all of your questions answered during the interactive Q&A portion of the program.

Please join Tech Transfer Central and Benjamin Kern, partner with Winston and Strawn, for this important program:

Convertible Notes and SAFEs

This session will provide you with the understanding of the structure of convertible notes for seed-stage financing. Mr. Kern will also define critical terms and identify causes for converting debt to equity.

After the live session, keep the on-demand video for future training and education

Meet your presenter:

Benjamin KernBenjamin Kern
Partner
Winston and Strawn

Benjamin Kern concentrates his practice on investment, commercial, and exit transactions for high-growth companies. He advises growth-stage technology companies on intellectual property matters and personnel matters, as well as commercial and strategic relationships.

Additionally, Benjamin represents a variety of companies with technology licensing services, procurement, joint venture and outsourcing transactions, as well as commercialization of university and institutionally developed intellectual property. He is a member of the firm’s Videogame, Gaming and Esports Group dedicated to providing comprehensive legal solutions to companies in these industries.

Benjamin’s practice has spanned various industries including software as a service (SaaS); food and packaged goods; financial technology (FinTech); life sciences, medical devices, pharmaceuticals, and healthcare; wireless; energy and alternative energy; technology services; enterprise and stand-alone software; big data and AI; social networks, applications, and gaming; as well as device and component design, manufacturing, resale, and OEM transactions.

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