Join us on Wednesday 20 November from 10am - 11:30am for the last expert session of the year, where we take a deep dive into the updated AANZ equity investment term sheet by avid.legal. Murray Whyte will point out the newer additions/extractions as he takes you through the fundamentals of the term sheet template. Covering:
- Context & overview:
- Priced equity rounds versus other "convertibles"
- What is the purpose of a term sheet?
- Binding versus non-binding terms
- A brief summary of the updated AANZ term sheet changes from earlier version. What changed, and why?
- Pulling together an investment round:
- Lead investor
- No lead investor
- Valuation:
- Pre-Money Valuation and fully diluted basis: Clarify these concepts and their implications for ownership percentages.
- ESOP: Impact of ESOP (and other existing securities like SAFEs or Convertible Notes).
- Investment conditions:
- Minimum investment amounts & rolling closes
- Approvals
- Due diligence
- Warranty regimes:
- An introduction to warranties and disclosure
- Governance Rights:
- Board Composition: How board seats are allocated.
- Shareholder Voting Rights: Voting thresholds, founder control and investor veto rights.
- Liquidation Preferences:
- Definition: Explain what liquidation preferences are and why they matter.
- Types: 1x non-participating versus participating preferences.
- Anti-Dilution Provisions:
- A short explanation of the purpose and relevance.
- Founder vesting:
- A short explanation of the purpose and relevance.
All angel investments begin with the terms proposed by the entrepreneur and agreed to by the angel investor (or proposed by the angel and agreed to by the entrepreneur). A summary of these terms is presented in the "term sheet", the basic document of early stage investing.
This session would be useful for founders and both novice and early stage investors. Past term sheet sessions have been highly valued taking the full 90mins to get through the content and Q&A.
Pricing for Members is $40 + GST, non-members is $60 + GST.
Register:
Please confirm your attendance by registering.
