Convertible Note Seed Financings: Founders Beware!
Scott Edward Walker
MAY 15, 2012
What Happens If a Startup is Acquired Prior to the Note’s Conversion to Shares of Preferred Stock? As discussed in part 1 , in the context of a seed financing, a convertible note is a loan that typically automatically converts into shares of preferred stock upon the closing of a Series A round of financing.
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