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EVENT DETAILS |
Angel Lunch
For unaffiliated & affiliated accredited investors, VCs & CVCs
November 15 | 11:30-1:30
Perkins Coie| 3150 Porter Drive | Palo Alto
Convertible Notes Revealed
With Don Ross
Don Ross shares his years of hard won experiences with different investment vehicles & convertible notes in particular. Real world examples include a note that saved his investment & other notes that delivered nasty surprises.
Three major roles for convertible notes
Pros & cons of convertible notes
Advantages of being a creditor
Full ratchet & multiple liquidation preferences
What do you own? Fluid terms
Unintended impact on future financing
Devil in the details - conversion formula
How the discount & cap work
What if the note matures without conversion?
Lacks tax advantages of equity investments
Role of a side letter
SPEAKER
Don Ross
Managing Director, Scotasian Capital
Managing Partner Digital Health
Life Sciences Angels
Co-founder & member of HealthTech Capital
Former board director & current member of Sand Hill Angels
Member of Sierra Angels
Don Ross is Board Director & Managing Partner Digital Health at Life Sciences Angels. He also is a member & former board director Sand Hill Angels, member Sierra Angels, & co-founded HealthTech Capital. Don serves on several company boards & is a frequent speaker on entrepreneurship & startup investing.
Don has worked in healthcare for more than 40 years. In digital health, Don pioneered software for psychological testing & anxiety interventions, health risk appraisal, health behavior change, & blood pressure monitoring. Don co-authoredCoping with Tests, a program for students whose anxiety interfered with their performance on tests.Coping with Testswas published by Consulting Psychologists Press (CPP) & studied at Fordham University where it out-performed conventional group therapy. Don subsequently wrote the software for CPP's major assessment instruments, which included theMyers-Briggs, theStrong Interest Inventory, & theCalifornia Personality Inventory, among others. These pioneering efforts launched Don's career in healthcare.
Don subsequently co-founded a healthcare publishing company, funded it internally, & managed it for 15 years until acquisition. During the past decade, he has held board positions or senior operating roles in several diagnostics & medical device companies.
Don also is a co-founder of theHealthTech Conference, a highly-regarded meeting of senior health tech professionals.
Don is a published author, with articles, software, NIH-adopted literature, & two college-level nutrition textbooks (now in 6th editions). He is an honors graduate from UC Berkeley (architecture).
HOST
Adrian Rich
Partner, Perkins Coie
Adrian Rich has more than 15 years of experience counseling high-growth, emerging companies & their investors. With an education in biomedical engineering & economics & a lifelong passion for computers & programming, Adrian brings a deep technological understanding & a unique approach to counseling clients from inception to exit, as they undertake financial & strategic investments, licensing, strategic partnerships, acquisitions & public offerings, as well routine corporate matters. He tackles complex negotiations & issues, including deal structuring, reorganizations & down-rounds, using strong quantitative skills, coupled with creative problem solving.
Agenda
11:30-12:00 Registration, networking & Lunch
12:00- 1:30 Speakers & attendees discuss the topic
1:30- 2:00 Networking
Valerie Badgett & Brenda Swiney
Angel Information Program Co-Chairs
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