Business and Corporate

Structuring and Financing

Summary: An innovative software company in the video arena sought counsel to form a Delaware corporation. They sought assistance with raising the necessary funding through “friends and family” investors, bridge loans, and Series A and B Preferred Stock financing from angel and venture capital investors. 

Result: We helped the client obtain several rounds of financing.  We also created an equity incentive plan for the company’s employees and advisors, and helped them register trademarks. 

Attorneys and Paralegals:
Michael A. Futterman, Tim Gallagher (paralegal)

Business and Corporate

Stock Repurchase

Summary: Our client had gone through multiple rounds of financing over a number of years, involving nearly 100 shareholders; we had worked on several of them. The board of directors wanted to provide liquidity for a number of long-term shareholders.  We helped the client structure a stock repurchase offering, providing advice to the board on its fiduciary duties, and retaining an investment bank to offer a fairness opinion.  

Result: We drafted all the documents, including a memorandum to shareholders, a tax note, and tender documentation.   

Attorneys and Paralegals:
Michael A. Futterman, Thomas A. Maier, Tim Gallagher (paralegal) 

Business and Corporate

Structuring of Tourism Improvement District

Summary: The San Francisco Convention & Visitors Bureau sought our counsel in forming a Tourism Improvement District.  We worked closely with the San Francisco Mayor’s Office of Economic and Work Force Development, the Board of Supervisors, the Convention and Visitors Bureau, the Hotel Council, and the broader hotel community to design and structure the district. The City’s hotel community agreed to impose an assessment on tourist hotels to fund Convention & Visitors Bureau marketing and promotional efforts, as well as development of long-range plans for expansion of the Moscone Convention Center.

Result: The San Francisco Board of Supervisors approved the Tourism Improvement District unanimously in late 2008.  Futterman Dupree Dodd Croley Maier helped form and represents the newly created, non-profit San Francisco Tourism Improvement District Management Corporation, which administers the district.  This successful venture continues to provide substantial funding for the marketing of San Francisco to convention visitors and tourists, creating jobs and raising significant tax dollars for the City. 

Attorneys and Paralegals:
Michael A. Futterman, Tim Gallagher (paralegal)