Knowledge Is Power: Convertible Note Financing Terms, Part IV
Gust
OCTOBER 21, 2011
What these approaches have in common is that they cap the investors’ upside such that even in the most spectacular of liquidity events, unless the notes convert to equity first at a lower valuation, angels don’t get anywhere near the payoff awarded to equity holders. a) payable upon demand as of the closing of such transaction; or. (b)
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