Venture Deals · glossary
The harshest anti-dilution formula, which cuts the conversion price all the way to the new price. At Solaris it would have turned the 2,800 Series A shares into 5,600 ordinary shares, not 3,500. The founders, the staff and the pool would have paid for every extra share. Chapter 13
Explained in Chapter 13, The Down Round: Anti-Dilution and Pay-to-Play, of Venture Deals.
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