Convertible Debt – Conversion In A Sale Of The Company
Feld Thoughts
SEPTEMBER 27, 2011
In this case, the convertible debt document doesn’t allow the debt to convert into anything, but at the same time mandates that upon a sale the debt must be paid off. Usually we see 2-3x, but in later stage companies, this multiple can be even higher. If it’s not a stock deal, then one normally sees one of the above scenarios.
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