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Term Sheet - Simple Agreement for Future Equity (SAFE)

Clark Nevada Term Sheet - Simple Agreement for Future Equity (SAFE)

Name: Clark Nevada Term Sheet - Simple Agreement for Future Equity (SAFE)
Brand: US Legal Forms
Rating: 4.8 (401 reviews)

Category:

Corporations - Startup - Venture Financing Process

State:

Multi-State

County:

Clark

Control #:

US-ENTREP-008-1

Format:

Instant download

Description

This term sheet summarizes the principal terms of the proposed Simple Agreement for Future Equity ("SAFE") financing of a Company, by certain Investors. This term sheet is for discussion purposes, is not binding on an Investor, nor is an Investor obligated to consummate the financing until a definitive SAFE agreement has been agreed to and executed. The term sheet does not constitute an offer to sell or an offer to purchase securities.

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How to fill out Clark Nevada Term Sheet - Simple Agreement For Future Equity (SAFE)?

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FAQ

A KISS agreement (which is a Keep It Simple Security), is a simplified investment structure that is similar to a convertible note, which gets capital into your company much faster than more conventional methods.

A SAFE note, or a Simple Agreement for Future Equity, is one option that is popular among early-stage startups. A SAFE note is a simple instrument that startups use to raise funding from investors in the early stages, before an equity raise.

Safe (Simple Agreement for Future Equity) is a term used by Y Combinator that describes short open source documents that have been drafted for use in early-stage private company financing deals.

Entrepreneurs have a myriad of options for raising capital for their early-stage businesses including bootstrapping, crowdfunding, issuance of common stock, and issuance of convertible notes. Among these options is the Simple Agreement for Future Equity (SAFE).

A SAFE (Simple Agreement for Future Equity) is a convertible loan that does not have a debt component. SAFE is a contract (not a traditional loan) where an investor chooses to make a cash payment to a business in return for the negotiated right to turn that amount into stock if a predetermined trigger event occurs.

A simple agreement for future equity (SAFE) is a financing contract that may be used by a startup company to raise capital in its seed financing rounds. The instrument is viewed by some as a more founder-friendly alternative to convertible notes.

SAFE stands for Simple Agreement for Future Equity. It was created by the team at Y Combinator and has been a popular method for investing at the earlier stage of a company. At the early stage of a startup, it can be difficult to accurately assign a value to the company because there is usually very little data.

How to Prepare a Term Sheet Identify the Purpose of the Term Sheet Agreements. Briefly Summarize the Terms and Conditions. List the Offering Terms. Include Dividends, Liquidation Preference, and Provisions. Identify the Participation Rights. Create a Board of Directors. End with the Voting Agreement and Other Matters.

These agreements are made between a company and an investor and create potential future equity in the company for the investor in exchange for immediate cash to the company. The SAFE converts to equity at a later round of financing but only if a particular triggering event (outlined in the agreement) takes place.

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Clark Nevada Term Sheet - Simple Agreement for Future Equity (SAFE)

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