[sheet: Closing Checklist]
Item No. | Category | Document / Deliverable | Description / Notes | Responsible Party | Due Date | Status | Date Completed | Comments
HEADER | CLOSING CHECKLIST — SKYBRIDGE FINTECH LTD. SERIES B PREFERRED STOCK FINANCING | Matter No. 1009-00002 | Prepared by: Amy Chesterton, Calderwood & Harkness LLP | 919 N. Market Street, Suite 1500, Wilmington, DE 19801 | Signing Date: July 18, 2022 | Funding/Filing Date: July 29, 2022
HEADER | Transaction Summary | $45,000,000 Series B Preferred Stock | 7,500,000 shares at $6.00/share | Pre-money valuation: $140,400,000 | Post-money valuation: $185,400,000 | Post-money fully diluted shares: 30,900,000
(A) | CHARTER DOCUMENTS
A-1 | (A) | Amended and Restated Certificate of Incorporation of Skybridge Fintech Ltd. | Execution version. Recapitalizes preferred stock stack: Series Seed (3,000,000 shares, $0.50 OIP, 6% non-cumulative dividend, 1:1 conversion, WA broad-based anti-dilution), Series A (5,000,000 shares, $2.00 OIP, 6% non-cumulative dividend, 1:1 conversion, WA broad-based anti-dilution), Series B (7,500,000 shares, $6.00 OIP, 8% non-cumulative dividend, 1:1 conversion, WA broad-based anti-dilution). Authorizes 30,000,000 shares Common and 15,500,000 shares Preferred. Aggregate liquidation preference: $56,500,000 ($45M Series B + $10M Series A + $1.5M Series Seed). Non-participating preferred. Protective provisions require Series B consent for CapEx >$5M, debt >$3M, option pool increase beyond 15% of 30,900,000 FD shares (4,635,000 shares), and other enumerated items. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18 | Filed with Delaware Secretary of State on July 29, 2022
A-2 | (A) | Certificate of Good Standing — Delaware Secretary of State | Certificate of good standing for Skybridge Fintech Ltd. (EIN: 84-3291057), Delaware C-corp incorporated March 14, 2018. Dated within five business days of closing. | Calderwood & Harkness LLP (Amy Chesterton) | 2022-07-18 | Complete | 2022-07-14 | Obtained from Delaware Secretary of State; dated July 14, 2022
(B) | TRANSACTION DOCUMENTS
B-1 | (B) | Series B Preferred Stock Purchase Agreement | Execution version dated July 18, 2022. Parties: Skybridge Fintech Ltd. and Purchasers — Granite Peak Ventures, LP ($30,000,000 / 5,000,000 shares / 66.67% of round), Ridgeline Capital Partners, LLC ($10,000,000 / 1,666,667 shares / 22.22% of round), and Solstice Growth Fund I, LP ($5,000,000 / 833,333 shares / 11.11% of round). Aggregate: $45,000,000 / 7,500,000 shares at $6.00/share. Signing and closing simultaneous. Includes Company reps/warranties referencing Disclosure Schedule; Purchaser reps; closing conditions. Provides for reimbursement of investors' counsel (Fenwick, Pratt & Howell LLP) fees capped at $75,000. Governed by Delaware law. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18 | Executed by all parties
B-2 | (B) | Amended and Restated Investors' Rights Agreement | Execution version dated July 18, 2022. Parties: Skybridge, Harborview Seed Investors LLC (Series Seed), Ridgeline Capital Partners, LLC (Series A and Series B), Granite Peak Ventures, LP (Series B), and Solstice Growth Fund I, LP (Series B). Registration rights (demand and piggyback), information rights, pro-rata rights for Major Investors (≥500,000 shares Preferred as-converted), QSBS covenants, market stand-off, confidentiality. Supersedes prior IRA dated March 6, 2020. Delaware law. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18 | Executed by all parties
B-3 | (B) | Amended and Restated Right of First Refusal and Co-Sale Agreement | Execution version dated July 18, 2022. Parties: Skybridge, Key Holders (Naveen Raghavan, Claire Whitmore, David Okonkwo), and all Preferred holders. Transfer restrictions on Key Holder shares; Company and Investor ROFR; tag-along/co-sale rights. Permitted transfers for trusts, family members, affiliates. Delaware law. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18 | Executed by all parties
B-4 | (B) | Amended and Restated Voting Agreement | Execution version dated July 18, 2022. Board composition: Seat 1 — Naveen Raghavan (Common), Seat 2 — Claire Whitmore (Common), Seat 3 — Thomas Brennan (Series A Preferred, Ridgeline Capital Partners), Seat 4 — Priya Deshmukh (Series B Preferred, Granite Peak Ventures), Seat 5 — Independent director TBD (mutual consent, deadline October 27, 2022 — 90 days post-closing). Drag-along provisions. Delaware law. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18 | Executed by all parties
B-5 | (B) | Management Rights Letter — Granite Peak Ventures, LP | Side letter granting Granite Peak Ventures, LP certain management and information rights to satisfy ERISA/VCOC requirements. Addressed to Marcus Thiel (Managing Partner) and Priya Deshmukh (Partner/deal lead). | Calderwood & Harkness LLP (Robert Jansen) / Fenwick, Pratt & Howell LLP (Kate Linfield) | 2022-07-18 | Complete | 2022-07-18 | Executed by Skybridge and GPV
B-6 | (B) | Disclosure Schedule to Series B Preferred Stock Purchase Agreement | Company disclosure schedules organized by SPA section. Section 2.2 — Capitalization: Pre-money FD shares 23,400,000 (Common outstanding 12,400,000; Series Seed 3,000,000; Series A 5,000,000; options outstanding 2,100,000 at WAEP $1.15; options available 900,000; option pool increase 1,635,000). References Ledgermark Transfer Services, Inc. (transfer agent) and Whitfield & Hesse CPAs LLP (auditors). Covers IP, litigation, material contracts, tax, employee matters. | Calderwood & Harkness LLP (Amy Chesterton) / Skybridge management | 2022-07-18 | Complete | 2022-07-18 | Reviewed and accepted by investors' counsel
(C) | CLOSING CERTIFICATES
C-1 | (C) | Officer's Certificate of Skybridge Fintech Ltd. | Signed by David Okonkwo (CFO). Certifies: (a) all Company reps and warranties in SPA are true and correct as of closing; (b) all closing conditions satisfied; (c) no material adverse effect since March 31, 2022. | Skybridge Fintech Ltd. (David Okonkwo, CFO) | 2022-07-18 | Complete | 2022-07-18
C-2 | (C) | Secretary's Certificate of Skybridge Fintech Ltd. | Signed by Claire Whitmore (acting as Secretary). Attaches and certifies: (i) A&R Certificate of Incorporation; (ii) Bylaws (as currently in effect); (iii) Board resolutions (written consent dated July 18, 2022); (iv) incumbency and specimen signatures of officers (Naveen Raghavan — CEO, Claire Whitmore — CTO, David Okonkwo — CFO). Attaches Certificate of Good Standing (see A-2). | Skybridge Fintech Ltd. (Claire Whitmore, CTO/Secretary) | 2022-07-18 | Complete | 2022-07-18
C-3 | (C) | Written Consent of the Board of Directors in Lieu of Special Meeting | Unanimous written consent dated July 18, 2022. Signed by Naveen Raghavan, Claire Whitmore, and Thomas Brennan. Authorizes: (i) Series B financing ($45M at $6.00/share); (ii) execution of SPA, A&R IRA, A&R ROFR/Co-Sale, A&R Voting Agreement; (iii) filing of A&R COI with DE Secretary of State; (iv) option pool increase of 1,635,000 shares under 2018 Equity Incentive Plan (total 4,635,000 = 15% of 30,900,000 FD); (v) appointment of Priya Deshmukh to Board; (vi) engagement of Pinnacle National Bank, N.A. as escrow agent; (vii) authorization of officers to execute ancillary documents. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18
(D) | LEGAL OPINIONS
D-1 | (D) | Legal Opinion of Calderwood & Harkness LLP (Issuer's Counsel) | Opinion letter dated July 18, 2022 addressed to Granite Peak Ventures, LP, Ridgeline Capital Partners, LLC, and Solstice Growth Fund I, LP. Opines: Skybridge duly incorporated and in good standing under Delaware law; A&R COI duly authorized and filed; 7,500,000 shares Series B Preferred duly authorized, validly issued, fully paid, non-assessable; transaction documents duly authorized, executed, delivered, legal, valid, binding; no conflict with COI, bylaws, or Delaware law. Customary qualifications and assumptions. Signed by Miriam Calloway, Partner. | Calderwood & Harkness LLP (Miriam Calloway) | 2022-07-18 | Complete | 2022-07-18 | Delivered to investors' counsel (Fenwick, Pratt & Howell LLP — Kate Linfield / Samuel Ito)
(E) | ESCROW & FUNDS FLOW
E-1 | (E) | Escrow Agreement — Pinnacle National Bank, N.A. | Escrow agreement among Skybridge, Purchasers, and Pinnacle National Bank, N.A. (Richard Halloran, VP, Escrow Services). Address: 100 Federal Street, Boston, MA 02110. Governs deposit and release of closing funds. | Calderwood & Harkness LLP (Amy Chesterton) / Pinnacle National Bank | 2022-07-18 | Complete | 2022-07-18
E-2 | (E) | Wire Transfer Instructions — Purchasers | Wire instructions from each Purchaser for transfer of aggregate $45,000,000 to Pinnacle National Bank escrow account. GPV: $30,000,000; RCP: $10,000,000; SGF: $5,000,000. | Fenwick, Pratt & Howell LLP (Samuel Ito) / Each Purchaser | 2022-07-18 | Complete | 2022-07-18 | Funds wired to escrow on July 18, 2022
E-3 | (E) | Funds-Flow Memorandum | Detailed funds-flow memo showing: (i) Aggregate inflow: $45,000,000 from Purchasers to Pinnacle National Bank escrow; (ii) Placement-agent fee to Compass Bridge Advisory Group LLC (Lena Kowalski, Managing Director; 75 Ashbury Asset Advisors, Suite 2400, Boston, MA 02109): $900,000 (2.0% × $45,000,000); (iii) Investors' counsel fee reimbursement to Fenwick, Pratt & Howell LLP: $75,000; (iv) Net proceeds to Skybridge Fintech Ltd.: $45,000,000 − $900,000 − $75,000 = $44,025,000. Funds released from escrow on July 29, 2022. | Calderwood & Harkness LLP (Amy Chesterton) / Skybridge (David Okonkwo, CFO) | 2022-07-18 | Complete | 2022-07-29 | Funds released July 29, 2022
E-4 | (E) | Wire Transfer Instructions — Skybridge Fintech Ltd. (Recipient) | Company wire instructions for receipt of net proceeds ($44,025,000) from Pinnacle National Bank escrow. | Skybridge Fintech Ltd. (David Okonkwo, CFO) | 2022-07-18 | Complete | 2022-07-18
E-5 | (E) | Wire Transfer Instructions — Compass Bridge Advisory Group LLC (Placement Agent) | Placement agent wire instructions for receipt of $900,000 fee. | Compass Bridge Advisory Group LLC (Lena Kowalski) | 2022-07-18 | Complete | 2022-07-18
E-6 | (E) | Wire Transfer Instructions — Fenwick, Pratt & Howell LLP (Investors' Counsel) | Wire instructions for reimbursement of investors' counsel fee ($75,000 cap). | Fenwick, Pratt & Howell LLP (Kate Linfield) | 2022-07-18 | Complete | 2022-07-18
(F) | INSURANCE
F-1 | (F) | D&O Insurance Policy — Ironclad Specialty Insurance Co. | Directors & Officers liability insurance. Policy limits: $5,000,000 per occurrence / $10,000,000 aggregate. Tail coverage: 6 years. Annual premium: $38,500. Required as condition to closing under SPA. | Skybridge Fintech Ltd. (David Okonkwo, CFO) | 2022-07-18 | Complete | 2022-07-15 | Policy binder delivered; full policy to follow
F-2 | (F) | Evidence of D&O Insurance — Certificate Delivered to Purchasers | Certificate of insurance from Ironclad Specialty Insurance Co. delivered to Purchasers and their counsel. | Skybridge Fintech Ltd. / Ironclad Specialty Insurance Co. | 2022-07-18 | Complete | 2022-07-18
(G) | MISCELLANEOUS
G-1 | (G) | Stock Certificate Issuance Instructions to Ledgermark Transfer Services, Inc. | Instructions to Ledgermark Transfer Services, Inc. (250 Royall Street, Canton, MA 02021) for issuance of stock certificates for 7,500,000 shares of Series B Preferred Stock: GPV — 5,000,000 shares; RCP — 1,666,667 shares; SGF — 833,333 shares. | Calderwood & Harkness LLP (Amy Chesterton) / Ledgermark Transfer Services, Inc. | 2022-07-29 | Complete | 2022-07-29 | Certificates issued July 29, 2022
G-2 | (G) | Amendment to 2018 Equity Incentive Plan — Option Pool Increase | Board-approved amendment to the 2018 Equity Incentive Plan increasing the option pool by 1,635,000 shares. Pre-Series B: 3,000,000 reserved (2,100,000 outstanding at WAEP $1.15, 900,000 available). Post-closing: total 4,635,000 reserved (15% of 30,900,000 post-closing FD shares). Available for future grant: 2,535,000 shares (900,000 existing + 1,635,000 new). Option pool increase carved from pre-money FD count. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18 | Approved per Board written consent (C-3)
G-3 | (G) | Stockholder Consent — Approval of Series B Financing and A&R COI | Written consent of stockholders holding requisite shares approving the Series B financing and filing of the Amended and Restated Certificate of Incorporation. | Calderwood & Harkness LLP (Amy Chesterton) | 2022-07-18 | Complete | 2022-07-18
G-4 | (G) | Indemnification Agreements — New Director | Indemnification agreement for Priya Deshmukh (Granite Peak Ventures, LP) as new Board Director. | Calderwood & Harkness LLP (Robert Jansen) | 2022-07-18 | Complete | 2022-07-18
G-5 | (G) | Filing of A&R Certificate of Incorporation with Delaware Secretary of State | Filing of executed A&R COI with the Delaware Secretary of State. Skybridge Fintech Ltd. (Delaware C-corp, incorporated March 14, 2018, EIN: 84-3291057). Filed on July 29, 2022. | Calderwood & Harkness LLP (Amy Chesterton) | 2022-07-29 | Complete | 2022-07-29 | Filed and accepted by DE Secretary of State
G-6 | (G) | Engagement Letter — Calderwood & Harkness LLP | Engagement letter dated May 5, 2022 from Calderwood & Harkness LLP to Skybridge (addressed to Naveen Raghavan, CEO, and David Okonkwo, CFO). Scope: issuer's counsel for Series B financing. Fee cap: $175,000 plus disbursements. Team: Miriam Calloway (Responsible Partner), Joel Strauss (Billing Partner), Robert Jansen (Lead Associate), Amy Chesterton (Working Associate). Matter No. 1009-00002. | Calderwood & Harkness LLP (Miriam Calloway) | 2022-05-05 | Complete | 2022-05-05 | On file
G-7 | (G) | Engagement Letter — Compass Bridge Advisory Group LLC (Placement Agent) | Engagement letter between Skybridge Fintech Ltd. and Compass Bridge Advisory Group LLC for placement agent services in connection with Series B financing. Fee: 2.0% of gross proceeds ($900,000). Signed by Naveen Raghavan (CEO) and Lena Kowalski (Managing Director). | Skybridge Fintech Ltd. (Naveen Raghavan, CEO) / Compass Bridge Advisory Group LLC | 2022-05-12 | Complete | 2022-05-12 | On file
G-8 | (G) | Post-Closing Binder / Index | Compilation of executed originals and certified copies of all closing documents assembled in closing binder. Index prepared by Amy Chesterton, Calderwood & Harkness LLP. | Calderwood & Harkness LLP (Amy Chesterton) | 2022-08-12 | Complete | 2022-08-10 | Closing binder distributed to all parties
[sheet: Funds Flow Summary]
Line Item | Payor / Payee | Amount | Direction | Wire Date | Notes
INFLOWS
1 | Granite Peak Ventures, LP (350 Sand Hill Road, Suite 180, Menlo Park, CA 94025) | $30,000,000.00 | Inflow | 2022-07-18 | 5,000,000 shares Series B Preferred at $6.00/share; 66.67% of round
2 | Ridgeline Capital Partners, LLC (200 Clarendon Street, 40th Floor, Boston, MA 02116) | $10,000,000.00 | Inflow | 2022-07-18 | 1,666,667 shares Series B Preferred at $6.00/share; 22.22% of round
3 | Solstice Growth Fund I, LP (600 Travis Street, Suite 3100, Houston, TX 77002) | $5,000,000.00 | Inflow | 2022-07-18 | 833,333 shares Series B Preferred at $6.00/share; 11.11% of round
TOTAL INFLOWS | $45,000,000.00
OUTFLOWS
4 | Compass Bridge Advisory Group LLC (75 Ashbury Asset Advisors, Suite 2400, Boston, MA 02109) — Placement Agent Fee | $900,000.00 | Outflow | 2022-07-29 | 2.0% of $45,000,000 gross proceeds; Lena Kowalski, Managing Director
5 | Fenwick, Pratt & Howell LLP (555 California Street, Suite 4000, San Francisco, CA 94104) — Investors' Counsel Fee Reimbursement | $75,000.00 | Outflow | 2022-07-29 | Capped at $75,000 per SPA; Kate Linfield, Partner
6 | Skybridge Fintech Ltd. (1600 Market Street, Suite 2200, Wilmington, DE 19801) — Net Proceeds | $44,025,000.00 | Outflow | 2022-07-29 | Aggregate proceeds less placement agent fee and counsel reimbursement
TOTAL OUTFLOWS | $45,000,000.00
NET (Inflows − Outflows) | $0.00 | Escrow account fully disbursed
[sheet: Key Dates & Milestones]
Date | Event / Milestone | Responsible Party | Status | Notes
2018-03-14 | Skybridge Fintech Ltd. incorporated in Delaware | Founders (Naveen Raghavan, Claire Whitmore) | Complete | State of incorporation: Delaware; EIN: 84-3291057
2018-08-10 | Series Seed Preferred closing | Harborview Seed Investors LLC (Elliott Yun, Manager) | Complete | 3,000,000 shares at $0.50/share; $1,500,000 aggregate
2020-03-06 | Series A Preferred closing | Ridgeline Capital Partners, LLC (Thomas Brennan, Managing Director) | Complete | 5,000,000 shares at $2.00/share; $10,000,000 aggregate
2021-01-01 | David Okonkwo joins as CFO | Skybridge | Complete | 600,000 shares Common (4-year vesting, 25% cliff)
2022-04-22 | Term sheet executed | Granite Peak Ventures, LP / Skybridge | Complete | Series B lead: Granite Peak Ventures (Priya Deshmukh, deal lead)
2022-05-05 | Engagement letter signed — Calderwood & Harkness LLP | Calderwood & Harkness LLP (Miriam Calloway) / Skybridge | Complete | Fee cap: $175,000 plus disbursements; Matter No. 1009-00002
2022-05-09 | Matter opened at Calderwood & Harkness LLP | Calderwood & Harkness LLP | Complete | Matter No. 1009-00002
2022-05-27 | First draft of transaction documents circulated | Calderwood & Harkness LLP (Robert Jansen) | Complete | Based on NVCA model documents (2020 edition), customized
2022-06-10 | Preferred Stock Capitalization Analysis & Liquidation Waterfall Memo circulated | Calderwood & Harkness LLP (Robert Jansen / Amy Chesterton) | Complete | Internal/client memo to Miriam Calloway and Naveen Raghavan
2022-06-24 | Diligence substantially complete | Calderwood & Harkness LLP / Fenwick, Pratt & Howell LLP | Complete
2022-07-18 | Signing / closing of definitive agreements (simultaneous sign & close) | All parties | Complete | SPA, A&R IRA, A&R ROFR/Co-Sale, A&R Voting Agreement, Board Consent, Closing Certificates, Legal Opinion, Escrow Agreement, Management Rights Letter
2022-07-18 | Closing funds wired to Pinnacle National Bank escrow | Purchasers / Pinnacle National Bank (Richard Halloran, VP) | Complete | $45,000,000 deposited into escrow
2022-07-29 | Funds released from escrow; stock certificates issued; A&R COI filed | Pinnacle National Bank / Ledgermark Transfer Services / Calderwood & Harkness LLP | Complete | Net proceeds of $44,025,000 to Skybridge; $900,000 to Compass Bridge; $75,000 to FPH; Certificates for 7,500,000 shares issued by Ledgermark; A&R COI filed with DE Secretary of State
2022-10-27 | Deadline for appointment of independent board director (Seat 5) | Skybridge Board / Investors | Pending | Within 90 days of closing; to be mutually agreed
[sheet: Parties & Contacts]
Entity Full Legal Name | Short Name | Role | Entity Type / Jurisdiction | Key Contact | Title | Address | Notes
Skybridge Fintech Ltd. | SBF | Issuer / Company | Delaware C-corp | Naveen Raghavan | Co-Founder & CEO | 1600 Market Street, Suite 2200, Wilmington, DE 19801 | EIN: 84-3291057; LTM ARR (3/31/22): $18,600,000
Skybridge Fintech Ltd. | SBF | Issuer / Company | Delaware C-corp | Claire Whitmore | Co-Founder & CTO; Acting Secretary | 1600 Market Street, Suite 2200, Wilmington, DE 19801 | Board Director (Common Stock designee)
Skybridge Fintech Ltd. | SBF | Issuer / Company | Delaware C-corp | David Okonkwo | CFO | 1600 Market Street, Suite 2200, Wilmington, DE 19801 | Officer's Certificate signatory; 600,000 shares Common (vesting)
Granite Peak Ventures, LP | GPV | Lead Investor — Series B Purchaser | Delaware LP (GP: Granite Peak Ventures Management LLC) | Priya Deshmukh | Partner (deal lead); Board Director post-closing | 350 Sand Hill Road, Suite 180, Menlo Park, CA 94025 | Commitment: $30,000,000 / 5,000,000 shares / 66.67% of round; Fund III ($620M)
Granite Peak Ventures, LP | GPV | Lead Investor — Series B Purchaser | Delaware LP | Marcus Thiel | Managing Partner | 350 Sand Hill Road, Suite 180, Menlo Park, CA 94025 | Management Rights Letter recipient
Ridgeline Capital Partners, LLC | RCP | Participating Investor — Series A & Series B | Delaware LLC | Thomas Brennan | Managing Director; Board Director (Series A designee) | 200 Clarendon Street, 40th Floor, Boston, MA 02116 | Series A holdings: 3,750,000 shares (75% of Series A); Series B commitment: $10,000,000 / 1,666,667 shares
Solstice Growth Fund I, LP | SGF | New Co-Investor — Series B Purchaser | Delaware LP (GP: Solstice Growth Capital Management LLC) | Angela Moreau | Principal (deal lead) | 600 Travis Street, Suite 3100, Houston, TX 77002 | Commitment: $5,000,000 / 833,333 shares / 11.11% of round
Harborview Seed Investors LLC | HSI | Existing Series Seed Holder | Delaware LLC | Elliott Yun | Manager | 44 Montgomery Street, Suite 1800, San Francisco, CA 94104 | Series Seed: 3,000,000 shares (100%); not participating in Series B
Calderwood & Harkness LLP | C&H | Issuer's Counsel | LLP (law firm) | Miriam Calloway | Responsible Partner | 919 N. Market Street, Suite 1500, Wilmington, DE 19801 | Fee cap: $175,000; Matter No. 1009-00002; Team: Joel Strauss (Billing Partner), Robert Jansen (Lead Associate), Amy Chesterton (Working Associate)
Fenwick, Pratt & Howell LLP | FPH | Investors' Counsel | LLP (law firm) | Katherine "Kate" Linfield | Partner | 555 California Street, Suite 4000, San Francisco, CA 94104 | Fee cap: $75,000 (reimbursed by Company); Associate: Samuel Ito
Compass Bridge Advisory Group LLC | Compass Bridge | Placement Agent | Delaware LLC | Lena Kowalski | Managing Director | 75 Ashbury Asset Advisors, Suite 2400, Boston, MA 02109 | Fee: 2.0% of $45M = $900,000
Pinnacle National Bank, N.A. | Pinnacle | Escrow Agent | National banking association | Richard Halloran | VP, Escrow Services | 100 Federal Street, Boston, MA 02110
Whitfield & Hesse CPAs LLP | W&H | Auditors | Delaware LLP | 300 Delaware Avenue, Suite 900, Wilmington, DE 19801
Ledgermark Transfer Services, Inc. | Ledgermark | Transfer Agent | Delaware corporation | 250 Royall Street, Canton, MA 02021 | Issues stock certificates for Series B shares
Ironclad Specialty Insurance Co. | Ironclad | D&O Insurance Carrier | Insurance company | Policy: $5M per occurrence / $10M aggregate; tail: 6 years; annual premium: $38,500