Thought Leadership - Manatt, Phelps & Phillips, LLP

Manatt Represents A.G.P. in Chromocell Therapeutics Corp. $6.6M IPO

A Manatt team led by Capital Markets Partner Thomas J. Poletti represented Alliance Global Partners (A.G.P.) as the underwriter for Chromocell Therapeutics Corp.@s initial public offering (IPO), which raised $6.6 million. Chromocell Therapeutics, a company based in New Jersey, develops and sells non-opioid and non-addictive treatments for pain and other related medical conditions. Their IPO...

2023–24 California State Budget Finalized—At Least for Now

After around-the-clock weekend negotiations between Democratic legislative leaders and Governor Gavin Newsom, working against a looming June 30 constitutional deadline, leaders announced a budget agreement late Monday night.

Startup Financing: When Is a SAFE Not So Safe?

Startups have been raising money using the Simple Agreement for Future Equity (SAFE) since it was first introduced by Y Combinator in 2013.

Startups, SAFE Act, Financing, Entrepreneurs

New DC Law Bans Non-Compete Agreements for Employees Making Below $150,000 Per Year

A new D.C. law that takes effect on October 1, 2022, will significantly limit the ability of employers to tie their District of Columbia-based employees to noncompetition agreements.

SEC Investigates Possible Brokerage Activities Linked to Token Listings

Following the recent filing of the SEC’s insider trading complaint against a former manager of Coinbase Global, Inc. (“Coinbase”), the SEC is now investigating Coinbase.

What Growth Companies Should Know About The Newly-Broken FTC Deadlock

The latest appointment to the Federal Trade Commission could lead to greater antitrust enforcement in industries that President Biden previously identified in his 2021 executive order regarding competition.

Antitrust, Federal Trade Commission, Mergers, Competition

Updated: HSR Thresholds Revised (and Lowered) and Early Terminations Suspended Pending Review

On February 1, 2021, the FTC announced revised notification thresholds for determining whether companies or other entities are required to provide notice to the federal antitrust agencies about a proposed transaction under the HSR Act of 1976, as amended.

Raising Capital Through Private Placements: Rule 506(b) vs. Rule 506(c) Offerings

Startups, and particularly first-time founders, typically find that raising funds is a significant, challenging and time-consuming process.

SEC, Investment, Stock, Founder, Capital Raise, Regulation D, Federal Securities Laws, Securities Act of 1933, Private Placement, Rule 506(b), Rule 506(c), Accredited and Nonaccredited Investors

Delaware Franchise Tax

A franchise tax is an annual tax a business entity is required to pay in a given jurisdiction as a result of being formed or organized, or for doing business, in that jurisdiction.

Tax, Delaware, Corporations, LLC, Limited Liability Company, Capitalization Table, Cap Table, Foreign Corporation, Domestic Corporation, Franchise Tax

Founder’s Stock: Vesting and Acceleration

Founder’s stock refers to the equity granted, typically in the form of common stock, to founders of a company for their preformation efforts in building the company.

Tax, Equity, Stock, Founder, Vesting, Common Stock, Acceleration