Venture Deals · glossary
A preference class’s choice, on a sale, to give up its Preference Amount and share the price as if it held ordinary shares. A majority of the class decides for the whole class, and each class decides for itself. Article 5.2 · Chapter 9
Explained in Chapter 9, Preference Shares and the Stack, of Venture Deals.
The class can give up its preference and be treated as if it held ordinary shares. This is the as-converted election, and the class makes it once it can see the price. A majority of the class decides for the whole class, so the smallest holder follows the largest. Each class decides for itself, and its choice does not bind another class.Read Chapter 9, Preference Shares and the Stack →
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