New ask Hacker News story: Ask HN: Clerky and Securities Exemptions
Ask HN: Clerky and Securities Exemptions
2 by goldspruce | 0 comments on Hacker News.
I have heard good things about Clerky, and of course many YC startups use it. A few minor queries -- let us assume all the security purchasers are in California: (1) most lawyers would say that founder stock issuance requires a CA 25012(f) filing. Does anyone know why Clerky does not provide this? (2) Clerky does provide a CA 25012(o) with stock option plans, but states that you don't have to file it until you actually issue options. I think most lawyers would disagree with this, any input? (3) I don't think Clerky provides securities paperwork related to Convertible Note / SAFE issuance. Anyone know why?
2 by goldspruce | 0 comments on Hacker News.
I have heard good things about Clerky, and of course many YC startups use it. A few minor queries -- let us assume all the security purchasers are in California: (1) most lawyers would say that founder stock issuance requires a CA 25012(f) filing. Does anyone know why Clerky does not provide this? (2) Clerky does provide a CA 25012(o) with stock option plans, but states that you don't have to file it until you actually issue options. I think most lawyers would disagree with this, any input? (3) I don't think Clerky provides securities paperwork related to Convertible Note / SAFE issuance. Anyone know why?
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