TERM SHEET
Company:[__________], a Delaware corporation.
Securities:Series A Preferred Stock (“Series A”).
Valuation:
Pre-Money Valuation: clearly stated on a fully-diluted basis. $[__] million post-money valuation (fully-diluted, including all outstanding options, warrants). Post-Money: $[__]M, including an available option pool.
Liquidation:
1x non-participating preference First pay 1x OPP plus unpaid dividends on each share of Series A Preferred. A sale will be treated as a liquidation.
Dividends:6% noncumulative, payable when declared by the Board.
Voting:Approval of Preferred Majority required to change rights or preferences of Preferred Stock...