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Fixed Fee Key To Successful Financing Transaction

As with any fixed fee arrangement, all of the parties involved need to be satisfied with the arrangement for it to be truly successful. Such was the case recently when our client sought to close on venture capital financing. For the client and the venture capital group providing the capital, establishing reasonable certitude regarding the legal costs of the deal was critical. The client, a $20 million payroll and employee benefits services company, could not afford to see too much of its funding go to legal fees after it had carefully negotiated the buyout of partners and sought to expand its business. Lindabury’s Bob Anderson, one of our corporate and securities attorneys, was familiar enough with the client and the details of a $7.5 million transaction and experienced enough with the nature of the deal to prepare a fixed fee that was acceptable to all parties. Bob negotiated, documented and closed the deal on time and within budget and helped to set the client on course for its promising future.

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