Venture Deals · glossary
Shares paid before the ordinary shares when capital is returned or the company is sold. Solaris ended with three classes: Seed, Series A and Series B. Article 1 · Chapter 9
Explained in Chapter 9, Preference Shares and the Stack, of Venture Deals.
The Series A left Solaris with two classes of preference shares: the Seed Preference Shares, from the angels' money, and the Series A Preference Shares. They sit on the same register as the founders' shares, but on a sale they are paid first. That right is the liquidation preference.Read Chapter 9, Preference Shares and the Stack →
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