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- The EBG permits participating companies to repurchase some or all of the equity purchased by Techstars at the same price per share paid by Techstars.
- The EBG may be exercised at any time after the final day of the Program (Demo Day for those programs with a public Demo Day) and prior to 6:00 p.m. local time (based on the location of the Program) on the 3rd business day following the final day of the Program.
- The Company must provide written notice (via email to the local MD and firstname.lastname@example.org) of Company’s election to exercise the EBG.
- The notice must specify (1) the percentage to be repurchased, and (2) an explanation of our failure that resulted in the exercise of the EBG.
- The EBG will automatically terminate early upon (1) the closing of a financing (equity, convertible notes, SAFEs or a combination thereof) with aggregate proceeds to the company in excess of $250,000 that occurs after the date of the signed Letter of Intent to participate in the Program; or (2) the sale or acquisition of the company.