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Term Sheet - Series A Preferred Stock Financing of a Company

Mecklenburg North Carolina Term Sheet - Series A Preferred Stock Financing of a Company

Name: Mecklenburg North Carolina Term Sheet - Series A Preferred Stock Financing of a Company
Brand: US Legal Forms
Rating: 4.67 (202 reviews)

Category:

Small Business - Investment or Funding

State:

Multi-State

County:

Mecklenburg

Control #:

US-ENTREP-001-1

Format:

Instant download

Description

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.

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FAQ

A Series A term sheet is a basic agreement that outlines all the terms and conditions of the investment. Term sheets usually focus on two key areas; control of company shares and how financials will be divided if an exit occurs.

You can determine the value of preferred stock outstanding by looking at a company's balance sheet and preferred stock prospectus. Determine the number of preferred shares outstanding. You can find this information on the company's balance sheet.

Most successful, venture-backed startup will have multiple financing rounds. For each round, there will typically be a distinct series of preferred stock tied to the financing series. So, if a startup had raised a Series A and a Series B, then it would likely have Series A Preferred Stock and Series B Preferred Stock.

In exchange for their investment, typical Series A investors will receive common or preferred stock of the company, deferred stock, or deferred debt, or some combination of those. The entire investment is premised on the valuation of the company, how much it is worth, and how that valuation may change over time.

Series A Dividends means the cumulative dividends on each share of Series A Preferred Stock equal to the product of the Series A Base Value (as adjusted for stock dividends, stock splits, combinations, recapitalizations or the like) times a rate per annum of 8%.

Key Takeaways. The main difference between preferred and common stock is that preferred stock gives no voting rights to shareholders while common stock does. Preferred shareholders have priority over a company's income, meaning they are paid dividends before common shareholders.

The main difference between preferred and common stock is that preferred stock gives no voting rights to shareholders while common stock does. Preferred shareholders have priority over a company's income, meaning they are paid dividends before common shareholders.

Preferred stock gives you a financing alternative to taking on debt. You generally maintain greater control over your company than if you issue new common shares. You can also remain flexible for future financing rounds by keeping debt off of your balance sheet and retaining a call option.

The first round of stock made available to the public by a startup is referred to as Series A preferred stock. This type of stock is generally offered for purchase during the seed stage of a new startup and can be converted into common stock in the event of an initial public offering or sale of the company.

Mecklenburg North Carolina Term Sheet - Series A Preferred Stock Financing of a Company

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What is a Series A term sheet?

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