Venture Debt & Technology Finance

A core focus of our Banking & Finance practice is venture debt and technology finance transactions. Smith Anderson is a leading law firm for representation of banks, venture capital funds, other non-bank lenders, borrowers, private equity funds and venture capitalists in all aspects of structuring, negotiating, documenting, closing and working out venture debt and technology finance transactions. Our finance lawyers have extensive experience in drafting financing documentation, whether for bilateral, co-lender, senior-only or multi-lender transactions.

Building on our strengths in related areas, our robust venture finance practice is supported by lawyers across the firm’s AgTech, Health Care, Intellectual Property, Life Sciences, Mergers and Acquisitions, Start-Ups and Venture Capital practices. Clients benefit from our finance lawyers' ideal blend of significant experience on both sides of the table, deep market knowledge and an understanding of the industries in which emerging and technology companies operate.
Since 2020, we have represented clients in over 500 venture finance transactions.

Services

• Secured and Unsecured Loans
• Single Lender and Club Loans
• Senior and Mezzanine Loans
• Term Loans and Delayed-Draw Term Loans
• Accounts Receivable and other Asset-Based Lines of Credit
• Cash Flow and Recurring Revenue-Based Lines of Credit
• Non-Formula Lines of Credit
• Bridge and Convertible Debt
• Acquisition Financing
• Equipment Financing
• Letters of Credit
• Security and Collateral Documents
• Subordination Agreements
• Intercreditor Agreements
• Warrants
• Co-Investment Equity Documents

• Represented a bank in a $20 million senior term and revolving credit facility to an outpatient health care provider.
• Represented a publicly-traded specialty pharmaceutical company in a $60 million senior term credit facility.
• Represented a bank, as agent and lender, in a $50 million “club deal” credit facility to an internet service provider.
• Represented a global full-service digital contract research organization in a senior revolving credit facility, senior subordinated secured mezzanine term loan, junior subordinated secured mezzanine term loan and seller unsecured term loan aggregating approximately $55 million in connection with its acquisition of a contract research organization.
• Represented drone technology company in connection with negotiation of $5,000,000 revolving credit facility.

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• Represented clinical-stage pharmaceuticals company in connection with $20,000,000 term loan facility.
• Represented venture capital lender in connection with $10,000,000 revolving credit facility for advanced cancer genome analysis company.
• Represented venture capital lender in connection with $10,000,000 term loan and revolving credit facility for contract development, manufacturing and testing organization.
• Represented venture capital lender in connection with $20,000,000 revolving credit facility for wearable camera company.
• Represented a bank in a $7 million senior revolving credit facility to a data recovery service company.
• Represented an e-procurement solutions company in a $30 million senior revolving credit facility.
• Represented a publicly-traded specialty pharmaceutical company in a $23 million senior term loan in connection with which certain of the company’s intellectual property assets were isolated (via a series of assignment and licensing transactions) in a bankruptcy remote subsidiary.
• Represented a venture capital company in a $2 million subordinated secured term loan to a women’s clothing company in which the venture capital company had a significant equity investment.
• Represented a bank, as agent and lender, in a $10 million “club deal” senior term loan to a clinical stage pharmaceutical company.
• Represented a bank in a $20 million senior term and revolving credit facility to an information technology and services company.

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