# LivingSocial Receives Emergency $110M Debt Infusion From Existing Investors With Oppressive Terms

<http://www.privco.com/livingsocial-receives-emergency-110m-cash-infusion-from-existing-investors-to-avoid-bankruptcy>

- Host: [privco.com](https://links.thingelstad.xyz/hosts/privco.com/)
- Saved: February 21, 2013 (2013-02-21T17:27:55Z)
- Record: https://links.thingelstad.xyz/links/58d39abfe849/
- JSON: https://links.thingelstad.xyz/links/58d39abfe849.json

## From the page (probably an excerpt, not Jamie's words)

LIVINGSOCIAL Receives Emergency $110M Debt Infusion From Existing Investors With Oppressive Terms, JUST DAYS FROM BANKRUPTCY, Effectively Handing Over Distressed Co. to Today's Financing Participants...Implied Valuation: JUST $330M, DOWN 94% FROM $5.7 BILLION In Dec. 2011 V.C. Round...Equity Was NOT Issued Today (As Has Been Widely Misreported)...Instead, A Desperate LIVINGSOCIAL Accepted A COMPLEX Series of Secured-Convertible-Debt Securities With Onerous Terms (PrivCo Has Confirmed Exclusively) Including: (1) Liquidation Preferences of SEVERAL TIMES the $110M In Debt (2) Double-Digit Cash Dividends (3) "Super-Warrants" On Stock, (4) Secured Against Co. Assets and Stock, and (5) Re-Pricing of Participating Investors Earlier Rounds...Employees' and Founders' Common Stock Now Worthless

## Facts

- Kind: [Page](https://links.thingelstad.xyz/kinds/page/)

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## Elsewhere

- Wayback Machine: https://web.archive.org/web/*/http://www.privco.com/livingsocial-receives-emergency-110m-cash-infusion-from-existing-investors-to-avoid-bankruptcy