
The Ideal First Round Term Sheet - pmjordan
http://www.avc.com/a_vc/2009/08/the-ideal-first-round-term-sheet.html
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joshu
You do not want to issue investors common stock. If you do several raises at
different prices, you can move the preferred price up and leave the common.
Changing the common stock's price and affecting the options granted to
employees can have tax implications.

Ask a lawyer. And an accountant.

