TERMSHEET
PreliminaryNotes
ThisTermSheetmapstotheNVCAmodeldocuments,andforconveniencetheprovisionsaregrouped accordingtotheparticularmodeldocumentinwhichtheymaybefound.AlthoughthisTermSheetisperhapss omewhatlongerthana"typical"VCTermSheet,theaimistoprovidealevelofdetailthatmakestheTermSheet ufulasbotharoadmapforthedocumentdraftersandasareferencesourceforthebusinesspeopletoquickly finddealtermswithoutthenecessityofhavingtoconsultthelegaldocuments(assumingofcourtherehaveb eennochangestothematerialdealtermspriortoeGecutionofthefinaldocuments).
TERMSHEET
FORSERIESAPREFERREDSTOCKFINANCINGOF
[INSERTCOMPANYNAME],INC.
世界上最好的车[ __,200_]
ThisTermSheetsummarizestheprincipaltermsoftheSeriesAPreferredStockFinancingof[______
_____],Inc.,a[Delaware]corporation(the“Company”).InconsiderationofthetimeandeGpendevoteda ndtobedevotedbytheInvestorswithrespecttothisinvestment,theNoShop/ConfidentialityandCounlan dEGpensprovisionsofthisTermSheetshallbebindingobligationsoftheCompanywhetherornotthefina ncingisconsummated.NootherlegallybindingobligationswillbecreateduntildefinitiveagreementsareeG ecutedanddeliveredbyallparties.ThisTermSheetisnotacommitmenttoinvest,andisconditionedontheco mpletionofduediligence,legalreviewanddocumentationthatissatisfactorytotheInvestors.ThisTermShe etshallbegovernedinallrespectsbythelawsofthe[StateofDelaware].
Offering Terms
啊里巴巴ClosingDate: Assoonaspracticablefollowingthe Company’s acceptanceofthisTermS
heetandsatisfactionoftheConditionstoClosing(the“Closing”).[provid
eformultipleclosingsifapplicable]
Investors: InvestorNo.1:[_______]shares([__]%),$[_________]
InvestorNo.2:[_______]shares([__]%),$[_________]
[aswellotherinvestorsmutuallyagreeduponbyInvestorsandtheCompan
吃方便面会不会发胖
y]
AmountRaid: $[________],[including$[________]fromtheconversionofprincipal[a
ndinterest]onbridgenotes].1
PricePerShare: $[________]pershare(badonthecapitalizationoftheCompanytfort
hbelow)(the“OriginalPurchaPrice”).
Pre-MoneyValuation: TheOriginalPurchaPriceisbaduponafully-dilutedpre-
moneyvaluationof$[_____]andafully-dilutedpost-
moneyvaluationof$[______](includinganemployeepoolreprenting[
__]%ofthefully-dilutedpost-moneycapitalization). Capitalization: The Company’s capitalstructurebeforeandaftertheClosingistforthbel
ow:
Pre-Financing Post-Financing Security #ofShares % #ofShares %
1Modify this provision to account for staged investments or investments dependent on the achievement of milestones by the Company.
Common–Founders
Common–EmployeeStockPool
Issued
Unissued
[Common–Warrants]
SeriesAPreferred
Total
CHARTER2
Dividends: [Alternative1:DividendswillbepaidontheSeriesAPreferredonanas-co
nvertedbasiswhen,as,andifpaidontheCommonStock]
[Alternative2:Non-
cumulativedividendswillbepaidontheSeriesAPreferredinanamounteq
ualto$[_____]pershareofSeriesAPreferredwhenandifdeclaredbytheB
oard.]
[Alternative3:TheSeriesAPreferredwillcarryanannual[__]%cumulati
vedividend[compoundedannually],payableuponaliquidationorredem
ption.Foranyotherdividendsordistributions,participationwithCommo
nStockonanas-convertedbasis.]3
2The Charter is a public document, filed with the [Delaware] Secretary of State, that establishes all of the rights, preferences, privileges and restrictions of the Preferred Stock. Note that if the Preferred Stock does not have rights, preferences, and privileges materially superior to the Common Stock, then (after Closing) the Company cannot defensibly grant Common Stock options priced at a discount to the Preferred Stock.
3In some cas, accrued and unpaid dividends are payable on conversion as well as upon a liquidation event. Most typically, however, dividends are not paid if the preferred is converted. Another alternative is to give the Company the option to pay accrued and unpaid dividends in cash or in common shares valued at fair market value. The latter are referred to as “PIK” (payment-in-kind) dividends.
LiquidationPreference: Intheeventofanyliquidation,dissolutionorwindingupoftheCompany,th
eproceedsshallbepaidasfollows:
[Alternative1(non-
participatingPreferredStock):Firstpay[one]timestheOriginalPurchas
ePrice[plusaccrueddividends][plusdeclaredandunpaiddividends]onea
chshareofSeriesAPreferred.Thebalanceofanyproceedsshallbedistribu
tedtoholdersofCommonStock.]
[Alternative2(fullparticipatingPreferredStock):Firstpay[one]timesth
射手座和水瓶座
eOriginalPurchaPrice[plusaccrueddividends][plusdeclaredandunpa
iddividends]oneachshareofSeriesAPreferred.Thereafter,theSeriesAP
referredparticipateswiththeCommonStockonanas-convertedbasis.]
[Alternative3(caponPreferredStockparticipationrights):Firstpay[one
]timestheOriginalPurchaPrice[plusaccrueddividends][plusdeclared
andunpaiddividends]oneachshareofSeriesAPreferred.Thereafter,Seri
南北朝皇帝esAPreferredparticipateswithCommonStockonanas-
convertedbasisuntiltheholdersofSeriesAPreferredreceiveanaggregate
of[_____]timestheOriginalPurchaPrice.]
Amergerorconsolidation(otherthanoneinwhichstockholdersoftheCo
mpanyownamajoritybyvotingpoweroftheoutstandingsharesofthesurv
ivingoracquiringcorporation)andasale,lea,transferorotherdispositio
nofallorsubstantiallyalloftheastsoftheCompanywillbetreatedasaliq
uidationevent(a“DeemedLiquidationEvent”),therebytriggeringpay
mentoftheliquidationpreferencesdescribedabove[unlesstheholdersof[
___]%oftheSeriesAPreferredelectotherwi].
VotingRights: TheSeriesAPreferredStockshallvotetogetherwiththeCommonStocko
nanas-
convertedbasis,andnotasaparateclass,eGcept(i)theSeriesAPreferred
asaclassshallbeentitledtoelect[_______][(_)]membersoftheBoard(the
“SeriesADirectors”),(ii)asprovidedunder“ProtectiveProvisions”belo
wor(iii)asrequiredbylaw.The Company’s CertificateofIncorporationwi
红掌怎么繁殖
llprovidethatthenumberofauthorizedsharesofCommonStockmaybein
creadordecreadwiththeapprovalofamajorityofthePreferredandCo
mmonStock,votingtogetherasasingleclass,andwithoutaparateclassv
otebytheCommonStock.4
ProtectiveProvisions: Solongas[inrtfiGednumber,or%,or“any”]sharesofSeriesAPreferre
jojo台词>汽车市场调研报告
dareoutstanding,theCompanywillnot,withoutthewrittenconntoftheh
oldersofatleast[__]%ofthe Company’s SeriesAPreferred,eitherdirectly
4F or California corporations, one cannot “opt out” of the statutory requirement of a s eparate class vote by Common Stockholders to authorize shares of Common Stock.
