Business law

MOSAIK's attorneys are involved at every stage, from initial structuring to completion, in France and internationally.

Fundraising

A fundraising round (from Series A to Series C, with tickets of, for example, EUR 2 to 80 million) raises significant legal issues: compliance with securities regulations, investor protection, and contractual balance between the parties. Our firm assists you in particular with:

• Drafting and negotiating the investment documents (term sheet, shareholders' agreement, subscription agreements);
• Analyzing the regulatory constraints applicable depending on the nature and profile of the investors (private, institutional, funds);
• Putting in place protection mechanisms suited to each category of investor;
• Structuring the financing: equity, convertible bonds, share warrants (BSA), participating loans;
• Monitoring the legal compliance of the transaction, in particular with the regulations of the French financial markets authority (Autorité des marchés financiers, AMF).

Private equity

Private equity offers unlisted companies a powerful growth lever. It nonetheless requires rigorous command of the legal mechanisms governing the relationship between investors and founders. We act to:

• Structure the agreements between the parties (investors, co-investors, management);
• Draft and negotiate the full documentation: shareholders' agreements, investment agreements, letters of intent;
• Ensure the transaction's compliance with the legislation applicable to private investment;
• Put in place the appropriate protection mechanisms: liquidation preference, ratchet and anti-dilution clauses.

Management packages

Management packages align executives' interests with the company's performance, particularly in LBOs and fundraising rounds. Structuring them requires sharp legal and tax expertise. Our firm assists you with:

• Setting up stock option plans, free share awards (AGA) or French founder warrants (BSPCE);
• Drafting the constitutive documents and the rules of the incentive plans;
• Analyzing and optimizing the tax and social security treatment applicable to each mechanism;
• Securing the relationships between executives, shareholders and investors within the overall deal documentation.

Securities issuances

Issuing financial securities (shares, bonds, securities giving access to the capital) is a strategic financing tool. Its implementation raises legal and regulatory issues that our team masters:

• Drafting the issuance documents: prospectus, information memorandum, issuance agreements;
• Verifying the transaction's compliance with the applicable texts, notably the MiFID II directives, the Prospectus Regulation 2017/1129, the 2024 Listing Act Regulation and the new EU Listing Act exemption, as well as AMF requirements;
• Advising on the terms and structure of the issuance in light of the company's objectives;
• Assisting with approval and visa procedures before the competent authorities.

Frequently asked questions

How can a fundraising round support my company's growth?

These transactions mobilize financial resources to accelerate the company's development while optimizing its capital structure. Rigorous legal support ensures that the terms of the deal genuinely serve your long-term objectives.

What are the legal risks involved in issuing securities?

A poorly framed issuance can trigger the liability of the company and its executives in the event of non-compliance with the rules of the French financial markets authority (AMF) or inadequate investor disclosure. Preventing these risks requires thorough upstream analysis.

How should you choose a law firm for a fundraising or private equity transaction?

Choose a firm with proven experience in corporate law, financial regulation and the taxation of equity transactions, able to act both as counsel and as negotiator opposite the investors' advisers.