To clarify, how much would the startup have to pay their lawyer to manage this transaction, even if it is efficient? For context, I am trying to convince a rockstar startup that is closing their round in the next week to keep me in mind. They really want me in, but are eager to close their round and have interest from others. Even though I have 10% in PACTs there is no way for me to close the fund within a week. I am wiling to write an angel check to try to transfer later but the startup doesn't want to incur any significant (> ~ $200) costs to transfer the deal later.
Jun 29, 2023 8:08pm
It's hard for us to estimate this, but, we have seen lawyers do it at no or minimal charge if it's just a basic SAFE. You can tell the company that this is pretty standard practice. If it's a more complicated transaction like preferred shares, the company council may need to do more work.
Jun 29, 2023 8:52pm