The Truth About Convertible Debt at Startups and The Hidden Terms You Didn’t Understand
Both Sides of the Table
SEPTEMBER 5, 2012
What the entrepreneurs were really saying is, “I don’t want to take a lower valuation now, while I don’t have customers or a full team. So if I write you a $500,000 check into a convertible note with a $4.5 million cap I am assuming when I write the check that I will own 10% of your company.
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