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angel capital association model convertible note term sheet\nTERM SHEET FOR PRIVATE PLACEMENT OF\nCONVERTIBLE PROMISSORY NOTES\nBY\n[INSERT NAME OF COMPANY]\n[DATE]\nThis Term Sheet summarizes the principal terms of the proposed offering of convertible promissory notes (each, a “Note” and collectively, the “Notes”) by [INSERT NAME OF COMPANY], a Delaware corporation (the “Company”), to certain investors (the “Investors”). This Term Sheet is not a commitment to invest and is conditioned on negotiation of definitive transaction documents that are satisfactory to the Company and the Investors. Capitalized terms used in the text of this Term Sheet and not defined shall have the meaning set forth in Schedule A hereto.\nAn asterisk (*) and/or brackets indicate a choice of provisions. Footnotes also indicate considerations or a choice of provisions.\n\u000f\nSCHEDULE A\nDEFINED TERMS\nDiscount Percentage: ___%\nInterest Rate: _____ percent (%) [compounding //cumulative interest]\nLead Investor (if applicable): ________________\nLegal Fee Cap (if applicable): $______________\nMaturity Trigger Date: ______________\nMaximum Subscription Amount: $_________________\nMinimum Individual Subscription Amount: $______________\nMinimum Subscription Amount (if applicable): $_______________\nOffering Termination Date:  _______________\nQualified Financing Amount: $__________________\nRequisite Holders: the Investors holding at least__% of the aggregate outstanding principal amount due under the Notes.\nSale Multiple:   ___ times (___x)\nUse of Proceeds: [General working capital purposes of the Company][The following activities:  (1) ______________, (2) __________________, and (3) __________________.]\nValuation Cap: $________________","cbCair9qob0HMy9M","https://ap.wps.com/l/cbCair9qob0HMy9M","docx",53352,10,"English","# Term Sheet Overview\n## Defined Terms (Schedule A)\n## Key Pricing and Economics","[{\"question\":\"What does the term sheet cover for investors?\",\"answer\":\"It summarizes principal terms for the proposed private placement of convertible promissory notes offered by the company to certain investors, including key economics and defined parameters.\"},{\"question\":\"Is the term sheet a commitment to invest?\",\"answer\":\"No. It is not a commitment to invest and is conditioned on negotiating definitive transaction documents satisfactory to both the company and investors.\"},{\"question\":\"Which terms are defined in Schedule A?\",\"answer\":\"Schedule A defines key terms such as discount percentage, interest rate (compounding or cumulative), lead investor and legal fee cap, maturity trigger date, subscription amounts, offering termination date, qualified financing amount, requisite holders, sale multiple, use of proceeds, and valuation cap.\"}]","ACA-Model Convertible Note Term Sheet - Version 1.2 - November 2024 | DOCX",1788317967]