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Recently, based on internal feedback from our team and our founders, we have decided to change a key term around change of control in our seed investments. The specific language for this is usually tucked into a longish paragraph about Protective Provisions which states that a change of control cannot occur without the consent of a majority of the Preferred stockholders.
» Removing the Change of Control Provision from our Seed Deals
Sawickipedia: This is great news for entrepreneurs especially if more funds follow suit. Now that being said, entrepreneurs need to understand that change of control and followon financing approvals are likely one of the most important things not to give away to investors.
(via sawickipedia)
Rafer sez:
Hawtness. We’ll see who follows them.
(via rafer)
This was posted 1 year ago. Notes.
