Venture Deals · glossary
A round large enough to convert the early money automatically. At Solaris it meant raising at least €2,000,000 of new cash, not counting converting money. The Series A raised exactly that. Definition of Qualifying Financing · Chapter 4
Explained in Chapter 4, Convertible Loan Notes, 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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an issue of shares in the capital of the Company for cash raising not less than €2,000,000 in aggregate, disregarding for that purpose any share issued on the conversion of a Convertible Instrument;Read the definition in the document →
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