Have to call this out here for the sake of clarity for other shareholders.
A term sheet is by no means a “done deal”. A term sheet is a very high level document which outlines the basic terms which will be drafted in “legal speak” following agreement of the term sheet.
There is every chance that we cannot agree the terms and the agreement is abandoned. Whilst I think this outcome is unlikely, I feel it is necessary to lay out the facts here and avoid misinformation.
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