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Deluxe 19.09.2005               |
 Term Sheets - Valuations- A Line by Line Look at the Intricacies of Term Sheets - Valutions Deluxe
Author Company: Aspatore Inc.
Category: 
Term Sheets - Valuations- A Line by Line Look at the Intricacies of Term Sheets - Valutions Deluxe 5 stars (Term Sheet Language Reference Book) - This short book does an ...
File Size: 9.71 kB
OS: Windows 98 / NT / 2000 / ME / XP / VISTA
License: Digital - Time Limit, free to try, 9.71 to buy.
Software Developed by Aspatore Inc.
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Description :
Term Sheets - Valuations- A Line by Line Look at the Intricacies of Term Sheets - Valutions - 5 stars (Term Sheet Language Reference Book)
Term Sheets & Valuations: A Line by Line Look at the Intricacies of Term Sheets & Valutions review:5 stars (Term Sheet Language Reference Book) - This short book does an excellent job of outlining each section of a term sheet for a typical venture capital financing. Each term sheet section is briefly described and examples are given of investor favorable, company favorable and middle of the road language. It is not at all useful, however, for venture capital valuations.5 stars (The Book Every Management Team, VC & Lawyer Should Have) - This is by far the most widely used title by every venture capitalist. I would highly recommend this book to every vc, lawyer, and management team member (especially) of every company looking to obtain venture financing. You could not find better advice on negotation points, changes to wording or overall guidance on a term sheet than Wilmerding's advice in this book. Especially look at Chapter 3 where Wilmerding goes through line by line what every parapraph means on a term sheet. Also check out Wilmerding's other book, Deal Terms, or Raising VC From a Tier 1 Firm (which includes the entire text from Term Sheets & Valuations and Deal Terms).5 stars (Advice from a seasoned financial professional....) - After having this book referred to me by about 7 of my venture capital friends I decided to take a look. Well, I was very impressed as this is the first venture capital book I have seen to provide a true insider's perspective. This book literally tells you exactly the wording you need to use to make the section applicable to you - whether you are a:Venture CapitalistEntrepreneurLawyerEtc.Look at the below section and the detail it provides (you should note the book itself goes on to explain what this entire section means and what each section specifically does):(4) Conversion:[Investor Favorable, Middle of the Road and Company Favorable are the same.]The holders of the Series [A] Preferred shall have the right to convert the Series [A] Preferred, at any time, into shares of Common Stock. The initial conversion rate shall be 1:1, subject to adjustment as provided below.(5) Automatic Conversion:Investor Favorable:The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [3 times the Original Purchase Price] per share and for a total offering with net proceeds to the Company of not less than $40 million (a "Qualified IPO").Middle of the Road:The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [2 times the Original Purchase Price] per share and for a total offering with gross proceeds to the Company of not less than $25 million (a "Qualified IPO").Company Favorable:The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least a majority of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than two times the Original Purchase Price (as adjusted for stock splits and the like) and for a total offering of not less than $5 million, before deduction of underwriters commissions and expenses (a "Qualified IPO").
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