Common Contracts
1 similar Simple Agreement for Future Equity (Safe) contracts
TERM SHEET FOR SIMPLE AGREEMENT FOR FUTURE EQUITY (SAFE)Simple Agreement for Future Equity (Safe) • May 18th, 2023
This is a summary of the principal terms of (i) a restructuring of [Startup Name] so that it is a wholly-owned subsidiary of a Delaware limited liability company (“Company”), followed by (ii) a Simple Agreement for Future Equity (the “SAFE”) financing of the Company led by Canary Fund III, L.P. (the “Lead Investor”). This term sheet is an expression of intent only and, except as set forth under “Confidentiality,” is not meant to be binding on the parties.
