Good morning, Fergany.
Three things need you today. Nothing on fire — let's keep it that way.
Needs you first
Your Series A term sheet has two costly terms
A 1.5× participating preference and full-ratchet anti-dilution both quietly shift value away from you. Both are negotiable — worth a close look before you counter-sign.
Term Sheet · §3, §4·flagged 2 hours ago
Also needs you All 7 flags
Two board consents are still unsigned
Your board meets in 7 days — sign them before then.
Two past board decisions were never papered. Unsigned, they can surface as gaps when an investor or buyer runs diligence. A few signatures closes it.
Governance · Board
Medium
The term sheet's option pool comes out of your shares
~$4.8M of value — your real pre-money is closer to $27M.
The 12% option pool is carved out before the money goes in, so it dilutes you, not the investors. Moving it post-money, or shrinking it, puts that value back on your side.
Term Sheet · §2
Medium
Coming up Calendar
7 days
Q2 board meeting 2 consents to sign first
21 days
409A valuation expires Refresh before issuing new grants
28 days
Form D filing — Series A Due within 15 days of first sale
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