B&E counsels Reuse in financing round
Barros & Errázuriz has counselled Reuse, a Chilean marketplace dedicated to the repair and sale of electronic equipment, in structuring a USD $4,510,000 financing round.
This transaction was completed on 10 April, and involved the jurisdictions of the US (Delaware), Cayman Islands, Uruguay, Mexico, Chile, Colombia and Peru.
The structuring and execution of the Financing Round included: a corporate reorganisation under which new parent companies were formed in Delaware, USA and the Cayman Islands (Cayman sandwich structure); the organisation and coordination of the due diligence process carried out by the investors; as well as the preparation, negotiation and closing of the financing documents and other ancillary documents entered into with each investor.
The funds raised will be used to accelerate the company’s international expansion process, as well as to ensure the retention and recruitment of new employees. This is in addition to Reuse’s existing successful operations in Chile, Peru, Mexico and Colombia.
The transaction included the participation of Seaya Cathay Fund as lead investor, as well as the participation of other well-known venture capital funds, including Dalus Capital, Ignia, Silence and Buenaonda Investments (an investment fund structured by the founders of Cornershop).
Carey Olsen acted as advisor to Reuse in the Cayman Islands, Davalos Michel as advisor to investor Seaya Cathay Latham Fund, and Gunderson Dettmer as advisor to investor Dalus Capital.
B&E’s team was led by partner Lucas Marinovic (pictured), with support from lawyers Clemente Waidele, Vicente Antúnez, Belén Jottar and Lucas Varela.
