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Welcome to "No Fear Equity," a series focused on simplifying startup equity and fundraising. In this episode, Sophia Sang introduces Mike Laplante, a startup lawyer, to discuss a series A term sheet. When raising a priced round, understanding a term sheet is crucial despite the legal jargon. Mike from Perkins Coie, a trusted law firm, is here to guide us through the key components of a series A term sheet. One important aspect is the stated valuation, in this case, the company is raising $5 million. Let's delve into the details.