What is a Board Consent - Convertible Financing?
This is a board resolution that approves your startup entering into convertible instruments (e.g. SAFE, KISS or convertible note).
What is included in the Clara Board Consent - Convertible Financing??
It includes aggregate investment amount you can raise under the convertible instruments. It also authorizes the company's officers to sign such instruments. Finally, it attaches the form of the convertible instrument that can be entered into.
Why generate this document?
Generate this document because your investors are likely to want to see that your startup as properly authorized the execution of the convertible instrument they will enter into with you and approved its terms. This will likely be required before any funding occurs under the convertible instrument. It's also good corporate governance to have such authority formally passed in written form before you sign an important document such as a convertible instrument.