The Truth About Convertible Debt at Startups and The Hidden Terms You Didn’t Understand
Both Sides of the Table
SEPTEMBER 5, 2012
Because convertible debt deals often have both a ‘full ratchet’ and often have ‘multiple liquidation preferences’ “ Yup. What the entrepreneurs were really saying is, “I don’t want to take a lower valuation now, while I don’t have customers or a full team. That’s right.
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