The document provides information about Stirling Mercantile, an advisory firm that offers services including mergers and acquisitions advisory, expansion capital, fairness opinions, and early-stage financing. It lists the partners and their experience. Stirling Mercantile has over 10 years of transaction experience in technology and life science sectors. The rest of the document discusses perspectives on funding roadmaps, common challenges startups face in fundraising, and suggestions on deal structures and rights to consider in investment agreements.

3. About Stirling Mercantile Divestitures M&A Advisory Expansion Capital Fairness Opinions Early-Stage Finance FAIRNESS OPINIONS Director comfort & legal protection from independent, expert valuation EXPANSION CAPITAL Multiple industry experience Seasoned corporate financiers EARLY-STAGE FINANCING Full-service approach throughout process Aligned interests likely to secure funding DIVESTITURES Corporate financier involvement can improve price, simplify process . M&A ADVISORY Sage advice in times of need or growth opportunity

4. 10 Years of Transactions

5. Early-stage Financing

7. www.stirlingmercantile.com

8. Diverse Portfolio - Successful Exits 7 Technology IRR 342% 23x Cash 5x Cash 3x Cash Life Science

9. Perspectives Advisor Investor Exit Transactions Founder

10. Funding Road Map Confidential F, F & E Seed, Angel Series A Series B Year 1 2 3 4 5 Early Adopters Crossing the Chasm Mainstream Growth Develop Scale Expand Phases Funding Roadmap . Investor Exit Revenue today Launch

11. Objectives

12. Murphy’s Law