Unintended Consequences: When SAFE and Convertible Notes Go Awry
Pascal's View
JULY 9, 2017
When it comes time to convert the notes, these entrepreneurs face ‘sticker shock’ about their post-financing ownership. The bottom line: Startup CEOs/Founders need to do the projected capitalization table math on an as-converted, post-money basis from Day 1, before issuing any notes and modeling various possible future scenarios.
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