The Term Sheet summarizes the principal terms of the Series A Preferred Stock Financing of a Company, in consideration of the time and expense devoted, and to be devoted, by the Investors with respect to the investment. Term Sheets include detailed provisions describing the terms of the preferred stock being issued to investors. Some terms are more serious than others.
The Term Sheet is not a commitment to invest, and is conditioned on the completion of the conditions to closing set forth.
Maine Term Sheet - Series A Preferred Stock Financing of a Company
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Term sheets for venture capital financings include detailed provisions describing the terms of the preferred stock being issued to investors. Some terms are more important than others. The following brief description of certain material terms divides them into two categories: economic terms and control rights.
Redeemable preferred stock is a type of preferred stock that includes a provision allowing the issuer to buy it back at a specific price and retire it. Also known as callable preferred stock, redeemable preferred stock can be advantageous for issuers because it gives them more financial flexibility.
The first round of stock offered during the seed or early stage round by a portfolio company to the venture investor or fund. This stock is convertible into common stock in certain cases such as an IPO or the sale of the company.
In finance, a class A share refers to a share classification of common or preferred stock that typically has enhanced benefits with respect to dividends, asset sales, or voting rights compared to Class B or Class C shares.
Outstanding Series A Preferred Shares means the aggregate number of shares of Company Series A Preferred Stock issued and outstanding immediately prior to the Effective Time.
Preference shares, more commonly referred to as preferred stock, are shares of a company's stock with dividends that are paid out to shareholders before common stock dividends are issued. If the company enters bankruptcy, preferred stockholders are entitled to be paid from company assets before common stockholders.
Preferred stock is a type of stock that has characteristics of both stocks and bonds. Like bonds, preferred shares make cash payouts, often at a higher yield than bonds, while offering higher dividend returns and less risk than common stock.
A Preference Shares Investment Term Sheet also sets out the parties' preliminary thoughts on certain provisions to be included in a Shareholders' Agreement, which will be executed at completion of the investment and which will protect the company's or the shareholder's interests.
In Series B investors provide capital to a company in exchange for the latter's preferred shares. The majority of the deals include anti-dilution provisions like in the series A. This means that a company usually sells preferred shares that do not provide its holders with voting rights.
Preferred stock is a form of equity, or a stake in the company's ownership. Instead of being a form of debt equity, preferred stock works more like a bond than it does like a share in a company. Companies issue preferred stock as a way to obtain equity financing without sacrificing voting rights.