Unintended Consequences: When SAFE and Convertible Notes Go Awry
Pascal's View
JULY 9, 2017
However, many VCs experience vexing discussions with CEOs, and many CEOs belatedly realize that this is because they made a mistake: issuing multiple series of notes at various valuation caps without actually sitting down and figuring out the pro forma post-conversion equity ownership. It’s going to be great!”.
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