Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / term-sheet-pinnacle-initial.docx
term-sheet-pinnacle-initial.docx
Parties
Pinnacle Venture Fund II LP
Pinnacle Capital Management LLC
Ridgeline Ventures Fund III LP
Growth Partners Fund II LP
Brindoval Capital Group LLC
Greer LLP
Delaware General Corp
Employee Retirement Inc
Dates
April 22, 2022
May 6, 2022
Amounts
$850,000,000
$60,000,000
$260,000,000
$320,000,000
$3.25
$0.26
$4,800,000
$4.875
$90,000,000
$75,000,000
Obligations
No binding obligation to consummate the proposed investment shall arise unless and until definitive transaction documents are executed and delivered by all parties
Investment Amount The aggregate investment amount shall be Sixty Million Dollars ($60,000,000) (the "Investment Amount"), to be provided by a single investor, Pinnacle Venture Fund II LP, in a single closing
Any expansion of the option pool prior to or in connection with the Closing shall be included in the pre-money capitalization for purposes of calculating the Series D price per share and the Investor's post-closing ownership percentage
Price Per Share The purchase price per share of Series D Preferred Stock shall be $3
Shares Issued The number of shares of Series D Preferred Stock to be issued to Pinnacle at the Closing shall be approximately 18,461,538 shares, calculated as follows: $60,000,000 (aggregate investment) ÷ $3
Post-Closing Ownership Following the Closing, Pinnacle's ownership of the Company shall be approximately 18