Question: I am building a new product under my existing (stable, low-growth) company with a plan to spin it out with outside funding when it's ready and "investable". Do I need to complete the spin-off before seeking out Angel investors, or is it OK to say we'll do the spin-off contingent on the Angel round being ready to close?
Go ahead and meet with investors and let them know you are waiting to incorporate until you find your first investor. At the point you can quickly incorporate, setup the cap table, and send a convertible note/safe to them.
Thanks! That makes things a lot simpler on my end. I will start reaching out to Angels about ContactLink later this month but target the closing for early 2021.