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Writing for Beverage Business Insights, Jeremy Halpern and Meghan Kelly Analyze Changes to Convertible Debt

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Jeremy Halpern, co-chair of Nutter’s Emerging Companies Group and co-lead of the firm’s Food and Beverage group, and Meghan Kelly, an associate in the firm’s Corporate and Transactions Department, wrote an article about growth capital in Beverage Business Insights. In the article, “GUEST OPINION: The Changes that Are Quietly Clouding Convertible Debt as Go-To Option for Early-Stage Companies, Nutter Attorneys Halpern, Kelly Explain,” Jeremy and Meghan discussed that while convertible notes can be quicker and cheaper to document, and can defer certain kinds of negotiations, they are not always the right choice. According to the authors, with the changing market, there is a risk that this instrument, which was adopted by entrepreneurs in the belief that it would give them time to build value and reduce dilution, may end up costing founders much more equity than they ever imagined.

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