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No legally binding obligations will be created, implied, or inferred until a document in final form entitled “Series Stock Purchase Agreement,” is executed and delivered by all parties. Without limiting the generality of the foregoing, it is the parties intent that, until that event, no agreement shall exist among them and there shall be no obligations whatsoever based on such things as parol evidence, extended negotiations, “handshakes,” oral understandings, or courses of conduct (including reliance and changes of position). /
The Company and the Investor are discussing a private placement of shares of Preferred Stock on the following terms:
Amount of Investment: $[N] /
Valuation of the Company: $[N] Pre Money / on a fully diluted basis
$[N] Post Money on a fully diluted basis
Type of Security: Shares of the Company’s Series Preferred Stock (“Preferred”), convertible into shares of the Company’s Common Stock (“Common”)...
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