Venture Deals · glossary
Turning early money, or a preference share, into a fixed number of shares of a fixed class. At the Series A it happened automatically, just before the new money, and produced 2,000 shares. Clause 4 · Chapter 8
Explained in Chapter 8, The Conversion, of Venture Deals.
Before its Series A, Solaris had taken €1,300,000 from early investors and issued no shares for it. Three angels had paid under advance subscriptions, and three lenders had lent on convertible notes. Conversion turns that money into a fixed number of shares of a fixed class.Read Chapter 8, The Conversion →
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