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Welcome to "No Fear Equity," a series simplifying startup equity and fundraising. In this episode, Sophia Sang is joined by startup lawyer Mike Laplante to discuss Series A term sheets. Understanding legal jargon can be challenging, but Mike is here to help break it down. A term sheet is crucial when raising a price round. Mike emphasizes the importance of the stated pre-money valuation in the terms. This company is raising $5 million. Stay tuned for more key insights!