The Changing Face of Raising Money: From Equity to Debt & Convertible Debt
- Average Rating:
- 6
- Bundle(s):
- INCBA’s Cannabis Law Crash Course Bundle
- Categories:
- Business of Law | Cannabis | Webinar with CLE credit | Business
- Faculty:
- Samantha Gleit | Tahira Rehmatullah, President | Nicholas Vita
- Duration:
- 1 Hour 03 Minutes
- Format:
- Audio and Video
- SKU:
- INCBA100620TH2OD
- License:
- Access for 6 month(s) after purchase.
Description
Half a decade ago, money began to flow into the cannabis industry on the heels of first-mover momentum and pie-in-the-sky possibilities for a relatively lightly populated market. As we make our way through 2020, we are facing what could be the largest drop in market valuations since the great depression. Investors have begun to more closely examine where their money is going, and how they can ensure returns that fall in line with expectations. With that comes increased parameters, which include, among other things, a fundamental shift from equity financing to debt, to ensure some downside protection for investors. Join us to take a look at how the changing landscape has changed the identity of money flowing into the industry.
Credits
This program is eligible for 1 hours of General CLE credit in 60-minute states, and 1.2 hours of General CLE credit in 50-minute states. Credit hours are estimated and are subject to each state’s approval and credit rounding rules.
INCBA webinars are generally eligible for credit in the following states: AR, AL, CA, CO, GA, HI, IL, NJ, NM, NY, ND, PA, TX, VT. Additional states may be available for credit upon self-application by attendees. States typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program.
The on-demand version of this webinar is eligible for credit in the following states: AR, AL, CA, CO, GA, HI, IL, NJ, NM, NY, ND, PA, TX, VT. Additional states may be available for credit upon self-application by attendees.
(Default credit disclaimer updated 02.08.2024)
For current accreditation status, please select your jurisdiction below.
Faculty
Samantha Gleit Related Seminars and Products
Partner
Feuerstein Kulick LLP
Samantha Gleit is a partner at Feuerstein Kulick and leads the firm’s debt finance practice. Samantha has structured many of the largest debt facilities in the cannabis industry to date, and well as negotiating corporate restructurings for single-state and multi-state operators. This year Samantha was selected by Crain's New York Business for their list of "Notable Women in Law"; and in 2021 she was selected by Law360 as a "Rising Star" honoring attorneys under 40 whose legal accomplishments transcend their age. Samantha is also an adjunct professor at the Benjamin N. Cardozo School of Law, where she co-teaches a course in cannabis law.
Throughout her career, Samantha has advised institutional and alternative investors on distressed debt and high risk lending. She is known for implementing tailored, regulatory-compliant, loan and workout structures designed to maximize protection in the evolving cannabis legal landscape. Samantha also has extensive experience advising companies (ranging from startups to large public companies) on debt structure, risk management, workouts, acquisition financing, capitalization and compliance. Beyond traditional legal advice, Samantha also assists startups and growing companies identify liquidity sources, develop growth strategies and negotiate efficient financing solutions.
Recent representations include GlassHouse; Jushi; Holistic; Loudpack; lenders to Curaleaf, Terrascend, and Cresco; cannabis-focused REITs, a private lender in a $250 million senior secured credit facility with the factoring arm of a wholesale B2B marketplace; Navy Capital in leading in a private placement of convertible debt with 4Front; and FocusGrowth Capital Partners on debt and equity financings with various multi-state and single state operators.
Samantha is regularly interviewed and published in leading debt media outlets. In addition to being selected as a top cannabis lawyer under 40 in 2021 by Law360, Samantha was selected as a Rising Star in the 2015 – 2021 editions of New York Metro Super Lawyers® and featured in The New York Times Magazine Super Lawyers® Top Women Attorneys in the New York Metro Area. Samantha is regularly interviewed by legal publications on debt and equity financing in the cannabis industry. She has also co-authored an article featured on the cover of the ABI Journal discussing suggested reforms to the federal bankruptcy process. In 2013, Samantha was awarded the International Bar Association’s Insolvency Scholarship for her award winning article on distressed law firms. Prior to joining Feuerstein Kulick, Samantha worked at King & Spalding LLP in New York, in the corporate finance and investments group.
Tahira Rehmatullah, President Related Seminars and Products
T3 Ventures
Tahira Rehmatullah is President of T3 Ventures, Partner at Highlands Venture Partners, and member of the board of directors for Akerna Corp., Ceres Acquisition Corp., and Superette. From brand building to hedge funds, Tahira has previously held positions at Hypur Ventures, MTech Acquisition Corp., Marley Natural, Privateer Holdings, City First Enterprises, Perry Capital, and Ernst & Young. She is an investor and advisor to numerous cannabis and hemp businesses and entrepreneurs. She also serves on the advisory board of The Initiative and the Last Prisoner Project, and is dedicated to developing female and minority leadership in the industry. Tahira earned her MBA from the Yale School of Management and B.S. in Finance from The Ohio State University. She resides in New York City.
Nicholas Vita Related Seminars and Products
CEO
Columbia Care
Nick is the Co-Founder, CEO and Vice Chairman of Columbia Care, Inc. (“CC”). Based in NYC and founded in 2012 to cultivate, manufacture, develop and distribute cannabis products to institutions and consumers, CC is one of the world’s largest, fully-integrated medical cannabis companies, licensed to operate in 17 US states and the EU. With product being sold from California to Germany, CC has over 1500 employees globally and a full portfolio of hemp derived OTC CBD products, adult use cannabis products and the leading pharmaceutical grade medical marijuana products – recommended by many of the most respected medical centers in the US. With ongoing research initiatives across a number of therapeutic categories, CC collaborates with KOLs and scientists from world-renowned institutions such as Mount Sinai (data analytics), Columbia (opioid substitution study funded by NIH), Montefiore (opioid replacement and pain management), Harvard Medical School (pain management), The Center for Discovery (seizure disorders), Westmed (Rheumatoid conditions and Lupus) and King’s College London (Schizophrenia and Bi-Polar Disorders in collaboration with the Wellcome Trust).
Prior to founding Columbia Care, Nick was a Partner at Apelles Investment Management, LLC, a private investment management company focused on healthcare and privatized military infrastructure, a Partner and Healthcare Portfolio Manager at ARX Investment Management and worked in the Investment Banking Division at Goldman, Sachs & Co. Inc., as an Analyst, Associate and Vice President. Nick is a graduate of Columbia College, Columbia University where he was a member of the Men’s Varsity Heavyweight Crew Team and President of Saint Anthony Hall.
In 2018 Nick was awarded a Tribeca Film Festival Disruptive Innovation Award for his efforts to combat the US opioid crisis. He has served as a guest lecturer at leading universities and corporate and philanthropic advisory boards including GenNext, Success Academy, Deerfield Club of New York, NY State Industrial Hemp Working Group and US Attorney’s (Eastern District, NY) Counterterrorism Working Group (Disruption and Early Engagement). Nick currently resides in Greenwich, Connecticut with his family and is a Knight of the Sovereign Military Hospitaller Order of Saint John of Jerusalem, of Rhodes and of Malta.
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