Not exact matches
«Through the
subsequent rounds, we felt that we required a more focused investor who could help take the product
into the global space.
If a startup rushes
into early seed funding too soon, it can cause serious challenges when raising
subsequent rounds of funding, such as a series A.
The convertible notes payable were convertible at the election of the note holder
into either the securities issuable in a
subsequent round of financing at the per share price of such financing, or
into Series D convertible preferred stock at a per share price of $ 2.44.
From there, the investing enthusiasm just picked up speed as
subsequent rounds went higher and investors piled
into what was a very fast car.
The convertible note discount rate allows investors to convert the amount of their loan, plus accrued interest,
into equity at a reduced price relative to the investors in that
subsequent round.