This term sheet for financing early stage companies with investments from sophisticated angel investors was
developed by Gust, the platform powering over 90% of the organized angel investment groups in the United States.
The goal was to standardize on a single investment structure, eliminate confusion and significantly reduce the costs of negotiating, documenting and closing an early stage seed investment.
For those familiar with early stage angel transactions, this middle-of-the-road approach is founder-friendly and investor-rational, intended to strike a balance between the Series A Model Documents developed by the National
Venture Capital Association that have traditionally been used by most American angel groups (which include a 17 page term sheet and 120 pages of supporting documentation covering many low-probability edge cases), and the one page Series Seed 2.0 Term Sheet developed in 2010 by Ted Wang of Fenwick & West as a contribution to the early stage community (which deferred most investor protections and deal specifics until future financing rounds.)
The Gust Series Seed Term Sheet does meet Section 2.2 of the Founder Friendly Standard. The term sheet providesfor "reverse vesting"so the company can repurchase unvested stock if a Founder leaves before four years.
West Virginia Gust Series Seed Term Sheet
Category:
State:
Multi-State
Control #:
US-ENTREP-0039-1-A
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Gust Series Seed Term Sheet?
Are you presently in a placement in which you need papers for both company or individual purposes almost every working day? There are a variety of legal document themes available on the net, but locating types you can rely is not simple. US Legal Forms delivers thousands of form themes, just like the West Virginia Gust Series Seed Term Sheet, that happen to be written in order to meet state and federal requirements.
If you are already familiar with US Legal Forms site and also have a merchant account, merely log in. After that, it is possible to down load the West Virginia Gust Series Seed Term Sheet template.
Should you not offer an account and need to begin using US Legal Forms, abide by these steps:
- Get the form you want and make sure it is for that proper town/region.
- Use the Preview key to check the shape.
- See the description to actually have selected the correct form.
- In the event the form is not what you`re trying to find, use the Search area to find the form that suits you and requirements.
- Once you obtain the proper form, simply click Acquire now.
- Select the costs plan you would like, complete the necessary information to create your money, and purchase your order making use of your PayPal or charge card.
- Pick a handy file file format and down load your copy.
Get all the document themes you possess purchased in the My Forms food list. You may get a extra copy of West Virginia Gust Series Seed Term Sheet whenever, if necessary. Just go through the necessary form to down load or print out the document template.
Use US Legal Forms, one of the most considerable selection of legal forms, in order to save time as well as stay away from faults. The service delivers skillfully manufactured legal document themes which you can use for a range of purposes. Generate a merchant account on US Legal Forms and start creating your life easier.
Form popularity
FAQ
In a Series Seed financing round, startups issue a new class of preferred stock to investors. The terms of this new class are typically set forth in an amended and restated certificate of incorporation, and are sold by means of a stock purchase agreement.
Similar to previous stages of financing, the series C round primarily relies on raising capital through the sale of preferred shares. The shares are likely to be convertible shares. They offer holders the right to exchange them for common stock in the company at some date in the future.
Series Seed Preferred Stock is a type of preferred stock specifically designed for early-stage startups.
Series CF Preferred Stock means a series of Preferred Stock that is subordinate in all respects to the Company Senior Preferred Stock. The per share liquidation preference of the Series CF Preferred Stock shall equal the Conversion Price.
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.
Series CF Preferred Stock means a series of Preferred Stock that is subordinate in all respects to the Company Senior Preferred Stock. The per share liquidation preference of the Series CF Preferred Stock shall equal the Conversion Price.