Venture Financing Timeline
Cleanup
Term Sheet
Kickoff
Diligence
Pre-Closing
Closing
Post-Closing
Prior to negotiations with investors over term sheets, Fourscore conducts a review of your corporate documents and prepares any documents necessary to put you in the best position possible while you begin the financing process
increase of 57%
You provide Fourscore with the term sheet (if you have already identified the lead investor), or Fourscore helps you prepare a draft term sheet so you have something to share after a pitch
You confirm the current cap chart for Fourscore
Fourscore builds the financing’s pro forma cap chart
The lead investor and you sign the term sheet
increase of 57%
Fourscore solidifies the deal team and builds the transaction checklist
Fourscore holds a kickoff call with you to review timeline, process, and expectations
Fourscore schedules a kickoff call with investor counsel
Fourscore prepares minority investor communication including quick introduction to Fourscore, basic expectations and very general timeline
You complete Fourscore’s investment questionnaire
Fourscore prepares the first drafts of the financing documents
Fourscore assists you in building a diligence room file structure in accordance with the investor’s due diligence request format
Fourscore holds the “reps and warranties” call with you
Fourscore helps you in building the initial draft of the disclosure schedule
Fourscore provides the pro forma cap chart and first drafts of investment documents to investor counsel
Investor counsel provides markups of the documents, to be reviewed by Fourscore (expect more than one iteration)
Set target closing date with investor
Fourscore communicates with investors regarding signature blocks (after your approval)
Fourscore prepares signature pages for all parties
The parties provide a final confirmation of the pro forma cap chart
The parties confirm the closing date
If you do not already have EDGAR Codes, Fourscore initiates the Form ID process with the SEC
Fourscore sends signature page packets to investors by eversign
Fourscore sends communications to investors with wire instructions and exact/final investment amount (after your approval)
You confirm receipt of funds to Fourscore and we assist you in following up with investors whose wires have not been received
Fourscore submits Form D and Blue sky filings (after your approval)
Fourscore provides you with the closing invoice
Fourscore assists in issuing stock certificates (preferably through Carta or another electronic capitalization records system)
Fourscore finalizes the capitalization chart, stock ledger and option ledger
Fourscore creates a closing binder and share it with you (and with investors upon request and after your approval)
Fourscore assists in determining whether a 409A Valuation is recommended
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