Conversion Dilution Finance Ratchet 
Both Sides of the Table
SEPTEMBER 18, 2014
At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. A down round?
Both Sides of the Table
SEPTEMBER 5, 2012
Was Paul Graham right in his “high resolution” financing post? Because convertible debt deals often have both a ‘full ratchet’ and often have ‘multiple liquidation preferences’ “ Yup. You rarely find full ratchets in early-stage deals any more. Some thoughts on raising angel money.
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www.seriesseed.com
DECEMBER 9, 2012
Series Seed Financing Documents Blog. That’s because there are not that many issues to negotiate in a simple equity financing. You can follow this conversation by subscribing to the comment feed for this post. Have you had anyone from Canada use these documents for financing a Canadian (Quebec) entity? 09/02/2010.
Tim Keane
JANUARY 12, 2010
For angel groups, the distinction between groups and VCs on this issue is dwindling, especially as angel groups do bigger rounds of financing. Note that this applies only to earl stage Series A-type equity financings and assumes no cash dividends are paid to investors. First , dividends.
Gust
SEPTEMBER 17, 2014
Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. It’s like we need a finance 101 course for entrepreneurs.
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