Paul Temple – A Man We Will Miss

Paul Temple, skilled attorney, treasured colleague, and dear friend, died unexpectedly on August 23, 2021. His considerable professional gifts were a boon to his clients, and a blessing to those he mentored. We here at AlphaTech already miss his ready smile, his sardonic wit, and steady confidence as we struggle to accept life without Paul.

We are fortunate that Paul made such an impact on all of us, and left us so many fond memories to serve as a balm during this time. He was sincerely proud of our accomplishments together, and wanted the world (or at least everyone on State Street in Madison) to know what we achieved. So much so, he surprised us all by renting out the marquee at The Orpheum Theater to celebrate AlphaTech’s 10th anniversary. Paul was also fiercely loyal both to his friends and to every cause he believed in. His loyalty was steadfast, even when it was unwise, like the time that Paul unfortunately, albeit proudly, wore a Chicago Cubs jersey, hat, and Cubs shorts (somehow!) to a Brewers game. Paul was also a loving father and husband. We readily recall the sheer joy on Paul’s face after his son was born.  We also admired how he fulfilled a life-long dream of obtaining his pilot’s license and occasionally took some of our more adventurous team members on private flights.  We will forever miss the passion that he displayed for life and as an advocate and mentor for the companies with whom he worked as an attorney.

We are lucky to have had Paul in our lives, to know him, and to be known by him. His absence is a gap that cannot be filled. We are grateful to his wife, Molly, and his son, Jack, for letting him share his days with us. Our deepest sympathies to his parents, Steve and Mary Ann, to Molly’s parents, Tom and Diane, and to Molly’s sister, Allie.

We certainly don’t have a monopoly on Paul stories. We would appreciate your sharing of any anecdotes, memorable experiences, and photos of Paul at PTempleMemorial@gmail.com.  From the submissions, we plan to put together a memory book to share with Jack and Molly.

In lieu of flowers or gifts, if you would like to share your thoughts directly to the family, Molly has requested that you send messages to rememberingpaultemple@gmail.com, or if you would like to make a donation in Paul’s honor, feel free to do so for one of the organizations listed in Paul’s obituary (https://www.ryanfuneralservice.com/obituary/Paul-Temple).

Paul’s family is planning a memorial service in Madison, sometime in late September. There will be some ability to participate remotely in the service.  We will post more details when they become available.

AlphaTakes – Most Common Types of Securities Issued in Investor Financings

In this AlphaTakes video, Matt Storms discusses the most common types of securities issued in investor financing of privately held emerging technology companies. Since most emerging technology companies are organized as corporations due to investor requirements, he is going to focus on the types of securities issued by corporations.

Here are the key takeaways from this video:

    (1) Common stock is the base form of security issued and is typically sold to founders and friends and family.

    (2) Convertible debt is the most frequently used security in between priced financing rounds.

    (3) Convertible preferred stock is the security of choice for angels and institutional investors.

    (4) Other forms of securities include convertible equity and preferred stock without a conversion feature.

AlphaTakes – Series A Preferred Stock Term Sheet (part two)

In this second of a two part AlphaTakes video series, Matt Storms discusses the second half of the Series A Preferred Stock term sheet for an emerging technology company, using the Series A term sheet published by the National Venture Capital Association.

Here are the key takeaways from this video:

  1. The three most common alternatives to anti-dilution provisions:
    • Weighted average
    • Full ratchet
    • No anti-dilution provisions
  2. Several provisions are not typically heavily negotiated in Series A financings:
    • Pay to play requirements
    • Attorneys’ Fees
    • Registration rights
    • Participation rights
    • Drag-along rights
    • No shop requirements
  3. Keep an eye on the big picture