Aligned Long-Term Interest (Flexibility): If the startup were to default and be liquidated, there is no real incentive for the investor (i.e. convertible note provider) to force the company to undergoliquidation– hence, the investor often gives the company the option to extend the note’s ...
A Convertible Note Subscription Letter is a letter for an investor to subscribe for convertible note. Create this template in minutes.
Since the new investment triggered the event the conversion takes place at the Series A share price calculated above at 3.36. However the terms of the loan notes have a valuation cap of 5,500,000 and a discount of 20%. This means that the loan note holders receive a discount on the Ser...