Recently, Larry Zhou and Avon Zhao, attorneys of Landing (Shenzhen) Law Office, provided full-process legal services to an AI technology company in its seed round financing.
The client had previously engaged Larry Zhou's legal team for investment and financing matters. In this round, with several investment institutions expressing investment intent, the client turned to Larry once again.
Our legal team became involved from the term sheet negotiation stage, assisting the client in multiple rounds of negotiations with the investors and reviewing and revising the investment agreement through repeated iterations.
The two attorneys focused on the core provisions of the agreement, including the conditions precedent to the financing, repurchase conditions and requirements, preferential dividend rights, liquidation preference, veto matters, non-compete restrictions, liability for breach, and the joint liability arrangements between the founding team and the company.
They analyzed the impact of each provision on the company and the founding team, addressed the client's questions and concerns, proposed revisions, and negotiated with the investors through multiple rounds, striving to strike a balance between the investors and the company—securing the completion of the financing while preserving the founding shareholders' control over the company and room for future operations and development.
After the agreement was finalized, the two attorneys drafted the various ancillary agreements, and issued a legal compliance memorandum on the client's business model, flagging risks and providing remediation recommendations. In addition, at the founding team's request, they drafted a partnership agreement and its supplementary agreement, implementing the internal equity allocation and governance arrangements at the equity holding platform level.
The financing has since been successfully closed, and the client company has entered a new stage of development. The client expressed great satisfaction with the two attorneys' end-to-end service throughout the process.
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