Startup Board Resolution
WHEREAS, the Board of Directors of [Your Company Name] has deemed it beneficial and necessary to secure additional financial resources for company growth and expansion,
BE IT RESOLVED, that the Board of Directors of [Your Company Name], in accordance with its authority granted by the Company's Bylaws, hereby approves the initiation of a Series A Funding Round in order to raise capital.
RESOLVED FURTHER, that the Board hereby articulates its goal of raising $[0] through this Series A Funding Round. The company will provide prospective investors with equity shares commensurate with their investment rate as determined by the then-current valuation of the company.
RESOLVED FURTHER, that the [CEO or relevant authority] is hereby authorized and directed to execute all necessary and appropriate documents to effectuate the Series A Funding Round. This includes, but not limited to, term sheets, investor agreements, security agreements and all such other documents as the [CEO or relevant authority] deems necessary or advisable in connection with the proposed transaction.
RESOLVED FURTHER, that this resolution shall become effective as of [Month Day, Year].
BE IT FURTHER RESOLVED, that the officers of [Your Company Name] are hereby authorized and directed to take any action necessary to effectuate the foregoing resolution.
ADOPTED AND APPROVED by the Board of Directors of [Your Company Name] this [DATE] day of [MONTH, YEAR].
______________________
[Your Name]
[Your Title]
ATTEST:
______________________
[Secretary's Name]
Company Secretary
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