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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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Join Us in Cincinnati: Early-Stage Valuation &amp; Equity Compensation Happy Hour

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Thompson Hine is pleased to partner with CincyTech, EY, and Valuation Research Corporation for an upcoming finance-focused session exploring business valuation for early-stage companies and stock-based compensation. Join us for an in-person happy hour on Thursday, April 29, from 3–5 PM at Rhinegeist Brewery. The program will feature a panel discussion moderated by Joe Muraca, with insights from Larry Van Kirk, Jacquelyn Marsac, and <a href="https://www.thompsonhine.com/professionals/lindsay-karas-stencel/">Lindsay Karas Stencel</a>. This session will bring together founders, operators, and finance leaders for a practical discussion on current trends and best practices shaping the market. <a href="https://www.eventbrite.com/e/cincytechey-thompson-hine-happy-hour-tickets-1985906162792">Register here</a>.

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Join Us in Detroit: Project Medtech Midwest Showcase

The <a href="https://www.projectmedtech.com/events">Project Medtech Midwest Showcase</a>, taking place in Detroit on Wednesday, May 6, will spotlight the strength and momentum of the region’s medtech innovation ecosystem, home to leading healthcare systems, dynamic innovation hubs, and a growing community of startups. Now in its first year in Detroit, the event is designed to highlight regional talent, foster meaningful collaboration, and catalyze new growth opportunities across the Midwest. Thompson Hine is proud to serve as the happy hour sponsor, supporting opportunities for attendees to connect and engage with peers across the ecosystem. <a href="https://www.thompsonhine.com/professionals/aisling-susan-olaoire/">Aisling O'Laoire</a> and <a href="https://www.thompsonhine.com/professionals/lindsay-karas-stencel/">Lindsay Karas Stencel</a> will be in attendance, so be sure to say hello!

Columbus Founders Forum Event Recap

The April 22 <a href="https://www.thompsonhine.com/insights/the-midwest-advantage-building-and-scaling-startups-beyond-the-coasts/">Founders Forum</a> in Columbus brought together founders, investors, and ecosystem leaders to explore why the Midwest is emerging as a powerful region for building and scaling startups. The discussion highlighted how, despite longstanding coastal dominance in the startup narrative, Midwest founders are successfully building world-class companies through strong regional ecosystems, collaborative networks, access to capital, and a lower cost of growth. Panelists shared perspectives on the strategic advantages of launching and scaling companies in the Midwest. The conversation focused on key drivers such as investor access, talent pipelines, capital efficiency, and the strength of community support. Attendees gained practical insights into how founders can leverage these regional advantages to build capital-efficient companies, attract aligned partners, and compete on a national stage. The event reinforced a central theme: the Midwest’s value proposition continues to strengthen, making it an increasingly compelling environment for startup growth. Stay tuned for the next event in this series.

Thompson Hine Sponsors Lay of the Land’s 250th Episode Celebration

We’re excited to support a major milestone for the Northeast Ohio startup community. On April 30, Thompson Hine will serve as a program sponsor as Lay of the Land celebrates its 250th episode with a special community event at the Allen Theatre at Playhouse Square in Cleveland, starting at 5:00 p.m. What began in 2020 as a series of conversations has grown into a vibrant, entrepreneur-led platform that highlights the people, companies, and ideas shaping the region’s startup ecosystem. This event will bring together founders, investors, and ecosystem leaders for an evening of connection and celebration of Northeast Ohio’s entrepreneurial story. To register to attend, <a href="https://luma.com/mtn78crz">click here</a>.

Thompson Hine Sponsors 3rd Annual Healthy Human Economy® Innovation Exchange during Atlanta Tech Week

As part of Atlanta Tech Week, the Healthy Human Economy® Innovation Exchange on August 10, 2026, will convene a curated group of health innovation investors, founders, and health system executives for a focused discussion on the complexities of healthcare procurement. <a href="https://www.thompsonhine.com/professionals/lindsay-karas-stencel/">Lindsay Karas Stencel</a> will speak on the featured panel, “Procurement Unlocked,” which will examine how health tech companies can effectively sell into hospital systems and health plans—highlighting where deals most often stall and what both founders and buyers need to understand from legal, regulatory, and operational perspectives. The session will take a practical, practitioner-led approach to key issues such as compliance hurdles, contracting dynamics, and structuring considerations that can make or break a transaction. The program will also provide a meaningful opportunity to engage with key stakeholders across the healthcare innovation ecosystem, offering valuable insights for those navigating fund formation, deal structuring, and growth within the health tech sector.

Coffee Chat: Fund Formation Deep Dive: Venture, Hedge, Private Credit, and Digital Asset Funds

If you weren’t able to join us on April 22, our recent virtual <a href="https://www.thompsonhine.com/insights/investment-management-coffee-chat-series-2026-private-fund-formation-deep-dive/">Coffee Chat on Private Fund Formation</a> delivered a practical overview of the key legal and structural considerations involved in launching private investment funds across strategies, including venture capital, hedge funds, private credit, and digital assets. During the session, our panel explored common fund structures such as master-feeder and parallel fund arrangements, as well as the use of U.S. and offshore vehicles. The discussion also covered the regulatory framework underpinning private funds, including available exemptions from registration, and addressed critical issues such as investor eligibility, transfer restrictions, and the negotiation of specialized investor terms. If you missed it, you can access the full recording <a href="https://www.thompsonhine.com/insights/investment-management-coffee-chat-series-2026-private-fund-formation-deep-dive/">here</a>.

Thompson Hine is proud to sponsor Columbus Startup Week, May 5-7. They are bringing together top innovators, creators, and business leaders from all over Ohio for an incredible week of networking, inspiration, and growth. As part of our involvement, <a href="https://www.thompsonhine.com/professionals/lindsay-karas-stencel/">Lindsay Karas Stencel</a> will host a workshop on tackling term sheets, providing founders with practical guidance on key economic and control terms, negotiation dynamics and common pitfalls in venture financings. The session is designed to help entrepreneurs approach investor discussions with greater clarity and confidence. We are pleased to support Columbus Startup Week and to continue investing in the strength and growth of the Columbus startup ecosystem. Are you a Founder? Use the promo code foundersfree to get your Founder ticket for free. View the complete event agenda <a href="https://sparkworksinnovation.com/event/columbus-startup-week-22/agenda">here</a>.

Data Insights: What’s the right SAFE valuation cap?

Early-stage valuation caps, particularly in pre-seed and seed SAFEs, are far less standardized than many founders expect. Comparable $1M raises, for example, may clear at valuation caps anywhere from roughly $6M to $16M depending on the investor, company, and market context. At this stage, valuation is not formula-driven but highly contextual. While traction, revenue, and product matter, early-stage pricing is largely shaped by investor perception of the founding team and the strength of the opportunity. Some founders benefit from strong signaling based on their backgrounds and experience, leading to multiple competitive offers. Others face higher scrutiny and must provide more evidence to build conviction. Ultimately, there is no single “right” valuation cap; early-stage investing is inherently variable, and outcomes depend more on alignment with the right investors than adherence to a fixed pricing standard.

QuickLaunch: Experienced Guidance for Startups and Investors

Our QuickLaunch program is tailored to entrepreneurs, startups and investors, providing guidance on growth and funding cycles and offering cost-effective counsel on day-to-day legal matters from formation to funding to exits. Our seasoned team helps navigate the confusing waters of growth, funding, expansion and those tricky legal issues that can arise, often at fixed or budgeted pricing by using our firmwide proprietary SmartPaTH Plus™ tool. To learn more about our tailored, value-enhancing solutions, please visit our <a href="https://www.thquicklaunch.com/">site</a>.

For more information, please contact a member of our <a href="https://www.thquicklaunch.com/team/">QuickLaunch team</a>.

New Ventures Update – April 2026

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