SEC Report on Tokens as Securities: Seven Takeaways
One of the more interesting phenomena in early-stage investing is the recent emergence of initial coin offerings (“ICOs”), token generation events (“TGEs”), or similar distributed ledger or blockchain-enabled means for raising capital. Much has been written, including by many skilled lawyers in the technology sector, about whether the tokens issued in ...
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Current trends on deal multiples (Q1 2017)
By Trent Dykes on 30 Mar 2017
Our private company clients often ask what kind of revenue or EBITDA multiple ranges they can expect upon a sale or when determining their enterprise value in connection with a financing. This is always a tricky question as value is driven by ever-changing supply and demand and then-current market conditions. Moreover, ...
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Investors
SEC Report on Tokens as Securities: Seven Takeaways
By Trent Dykes on 27 Jul 2017
One of the more interesting phenomena in early-stage investing is the recent emergence of initial coin offerings (“ICOs”), token generation events (“TGEs”), or similar distributed ledger or blockchain-enabled means for raising capital. Much has been written, including by many skilled lawyers in the technology sector, about whether the tokens issued in ...
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VC Funds and Tax
Getting up to speed on blockchain, Bitcoin, Ethereum, cryptocurrencies and ICOs
By Trent Dykes on 07 Jun 2017
Much has been written recently on blockchain, Bitcoin, Ethereum, cryptocurrencies and initial coin offerings (ICO). Unfortunately, for non-computer scientists (like me), trying to understand these concepts and their potential implications can be a bit overwhelming. To help all of those non-technologists trying to get their heads around blockchain, Bitcoin, Ethereum, ...
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IPOs and M&A
Hart-Scott Rodino Thresholds Revised
By DLA Piper on 23 Jan 2017
From our colleagues Paolo Morante, Steven E. Levitsky, Laura Kam and Adam Steene: The Federal Trade Commission has announced its annual revision to the jurisdictional thresholds under the Act. The new thresholds will go into effect 30 days after publication in the Federal Register, which is expected in the next few days. Under the new ...
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