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Do we need to write up board approval for the SAFE and common stock purchase agreement signed at the start of Alchemist?

Mia Scott avatar
Written by Mia Scott
Updated over 4 years ago

Usually any financing activity needs to have board approval. Depending on how you may have set up a previous board approval on a financing event, you may not need an additional one. If your board has more members than your founders, then you may want to make sure the other board members don't have a problem with ratification after the fact.

It might be best to work with a law firm on the nuances. If you don't have counsel yet, there are a couple firms that Alchemist has negotiated deferred fee arrangements where you don't have to pay for the initial foundational work they do, and can delay payments for other initial work for a period of time. You should be able to find info on the arrangements in the Vault. Some of the firms will do free office hours too for answering questions.


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