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Welcome to "No Fear Equity," a series simplifying startup equity and fundraising. In this episode, startup lawyer Mike Laplante teams up with Sophia Sang to explain a Series A term sheet. Understanding legal jargon can be tough, but with Mike's expertise, they break down key components. One crucial aspect is the stated free money valuation when raising a priced round. This company is aiming to raise $5 million, and Mike's insights will help navigate this process.