Venture Deals · glossary
The two prices at which early money can convert. The cap price is the valuation cap divided by the Cap Base, and the discount price is the round price less the discount. The lower one applies, never both. Schedule 3, para 1 · Chapter 8
Explained in Chapter 8, The Conversion, of Venture Deals.
Each instrument gave two possible prices, and the lower one applied. The cap price is the valuation cap divided by the agreed share count, the Cap Base. The discount price is the round price less the discount, which was 20% for both instruments.Read Chapter 8, The Conversion →
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