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Managing legal risks in down round venture financing

With the steep drop in public stock markets, many venture-backed technology companies have been forced to raise subsequent rounds of financing at a much deeper discount to earlier rounds. These are known as ‘down rounds'. Gilbert & Tobin define a down round and highlight the legal issues that arise.

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Gilbert & Tobin is a leading corporate, technology and communications law firm. Since its establishment in 1988, it has grown to over 350 employees. Gilbert & Tobin has a leading venture capital practice which has extensive experience in advising both venture capital funds and investee companies. For more information please visit www.gtlaw.com.au