nemanja-mit

4 ms·

1. 1.▲
   by nemanja-mit 7y ago

   Surprisingly, bio is pretty similar to software capital-wise, at least initially and the standard YC deal works well. Jared and Jorge wrote good pieces around this recently - https://blog.ycombinator.com/how-biotech-startup-
2. 2.▲
   by nemanja-mit 10y ago

   Key terms are interest rate (coupon) and conversion premium. These are not printed on preliminary prospectus and will be printed on the final once the pricing is determined. They way this works is that underwriters (big banks listed on th
3. 3.▲
   by nemanja-mit 10y ago

   looks like you've done time on a coverts desk ;)
4. 4.▲
   by nemanja-mit 10y ago

   > probably much smarter to distribute their lender among multiple entities than one giant bank that would have leverage on them The banks you see on the front page of the prospectus are not lenders in this transaction, they are underwrit
5. 5.▲
   by nemanja-mit 10y ago

   actually that law predates the explosion of the student debt market. it was intended to close a loophole - lore goes that law school graduates would default on their student loans just after they passed the bar and got their first law firm
6. 6.▲
   by nemanja-mit 14y ago

   It's a recruiting tool, that's all. They want to be a bit open sourcey to attract top talent. The broken unit test battery that comes with it is a job interview tool.