In the event that any Investor fails to or decides not to close the purchase and sale of the Series B Preferred Shares, any other Investor may elect at its sole discretion to proceed or not to proceed with the Closing, provided that if such other Investor elects to proceed with the Closi...
we could have multiple branches of the documents, like a “no blocking rights” branch of the documents where the preferred stockholders would not have a blocking right on an acquisition as they do in the main Series Seed documents. This “branch” would...
The Company shall provide such timely notice to the holders of the Company Series A Preferred Stock and Company Series B Preferred Stock as may be required under the MGCL or the Articles Supplementary creating such stock. No certificate or scrip representing fractional shares of Company Series A ...
Securities to Issue: Shares of Series Seed Preferred Stock of the Company (the “Series Seed”). Aggregate Proceeds: $[___] in aggregate.Purchasers: [Accredited investors approved by the Company] (the “Purchasers”).Price Per Share: Price per share (the “Original Issue Price”), based on...
Twitter Google Share on Facebook spin-off (redirected fromSub-series) Thesaurus Legal Financial spin·off orspin-off(spĭn′ôf′, -ŏf′) n. 1. a.A divestiture by a corporation of a division or subsidiary by issuing to stockholders shares in a new company set up to continue the ope...
“BindingTerms,”suchsummaryoftermsdoesnotconstitutealegallybindingobligation.Anyotherlegallybindingobligationwillonlybemadepursuanttodefinitiveagreementstobenegotiatedandexecutedbytheparties.OfferingTermsSecuritiestoIssue:SharesofSeriesSeedPreferredStockoftheCompany(the“SeriesSeed”).AggregateProceeds:$[___]inaggregate...
“SpecialTerms”]suchsummaryoftermsdoesnotconstitutealegallybindingobligation.Anyotherlegallybindingobligationwillonlybemadepursuanttodefinitiveagreementstobenegotiatedandexecutedbytheparties.OfferingTermsSecuritiestoIssue:SharesofSeedSeriesPreferredStockoftheCompany(the“SeriesSeed”).AggregateProceeds:Minimumof$500,000...
10,000,000 shares of common stock 10,000,000 shares of Series A preferred stock Also assume that the Series A preferred stock has a $1.00/shareliquidation preferenceand is non-participating. If the company is sold for between zero and $10M, then all of the merger consideration would go to...
Start-up begins their funding at the pre-seed andseed stages. Firms use the seed funding to develop business plans and other initial operations. Series A funding is then followed after the seed round. In, Series A funding, preferred shares and convertible preferred shares are common tools for...
Note: There is a recent phenomenon in Series A rounds that allow the investor to convert her shares upon the issuance of a future rounds into the preferred shares issued in that round. This is a protection to the investor that allows her to avail herself of the benefits afforded future inve...