Equity Back Guarantee: The Details

• 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 Demo Day (or, for those programs that end before or without a public Demo Day, the final day of Program) and prior to 6:00 p.m. local time (based on the location of the Program) on the 3rd business day thereafter. A virtual Demo Day is deemed to occur on the date that the event goes live online. 

• The Company must provide written notice (via email to the local MD and legal@techstars.com) 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; (2) Network Launch (pre-sale, initial coin offering, air drop, token distribution event, crowdfunding, or issuance of any instrument convertible into or exchangeable for Tokens that permits access to or use of a Network created, managed or licensed by the Company) or (3) the sale or acquisition of the company.