Negotiation. Terms against the cap table and the round you already keep on this listing. Closure on the stage chrome is this part of the path.
What it is
Term Sheet is the engagement stage after Deep dive. The page is the list of processes in negotiation. The numbers must match Cap Table and Fundraising Rounds. If they disagree, fix the record before you sign. A term sheet is not a close. Investments is the close.
What you see
Stage chrome with Closure in view when you are at the end of the path. The Term Sheet page is the dedicated list. Archives exist for sheets you are no longer negotiating.
Fundraise
Term Sheet
Readiness
Screening
Pitch
Deep Dive
Closure
Negotiation against the cap table and the round already on this listing.
OpenArchives
Stage chrome at Closure. Term sheets and Investments finish the path.
Cap Table
Ownership on this listing
Current
Share classesKept on the record so a new round does not start from a spreadsheet rebuild.
IssuancesKept on the record so a new round does not start from a spreadsheet rebuild.
Option grantsKept on the record so a new round does not start from a spreadsheet rebuild.
ConvertiblesKept on the record so a new round does not start from a spreadsheet rebuild.
Cap table. Ownership has to move if a term would change it.
How you engage
Keep the instrument current. On the round. Then on this page.
Update ownership when a term would change it. Cap table first. Notes are not enough.
Move to Investments when something closed. Then file the financing agreement in the data room.
