04-01-2023, 12:51 AM
Will law firm deferral agreements hurting chances of funding?
submitted by /u/BitMayne
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Hi All,
My company is going through Due Diligence for a pre/seed (does anyone actually know anymore?) round and we have two deferral agreements with large and fairly well known law firms amounting to around $80k in performed services combined (payment gets triggered after raising anything above $250k). We’re a FinTech in a very regulated space so we didn’t really have an option for the analysis/counsel we needed early on.
I was wondering if divulging this as a major liability (they want us to list liabilities above 40k) will hurt our chances?
Reached out to my contacts at each to see if we can negotiate a lesser amount some how but pretty worried nonetheless….
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