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Three Steps to Start Every Financing
Key considerations for directors:
• Step one: Assessing of gating issues which can immediately impact a company’s financing plans.
• Step two: Determining how much capital the company should try to raise is part art and part science.
• Step three: The use of proceeds can impact what type of financing is possible.
Common mistakes to avoid:
• Boards often outsource or delay vetting the pertinent “gotchas” to the detriment of shareholders.
• Boards need to confirm that the counsel being used by management are qualified corporate finance lawyers.
• Boards need to focus more on what is “possible” and less on what is “needed.”
• Boards often fail to ...