Venture Deals · glossary
A last date after which a fallback applies. If no round had come by 11 March 2023, the angels’ money would have converted at the cap price. Under the Investment Agreement, any investor could walk away if the conditions were not met within eight weeks of the term sheet. Clause 5.4 · Chapter 3 · Chapter 6
Explained in Chapter 3, SAFEs and Advance Subscriptions, of Venture Deals.
The money converts only on a qualifying financing: a share issue raising at least €2,000,000. The longstop date covers the case where none comes. For Solaris it was 11 March 2023, two years after signing.Read Chapter 3, SAFEs and Advance Subscriptions →
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