Venture Deals · glossary
The order in which classes are paid. A senior class is paid first, and classes that rank pari passu share a tier. The Series B ranks ahead of the Series A and Seed, which share the tier below. Article 5 · Chapter 9
Explained in Chapter 9, Preference Shares and the Stack, of Venture Deals.
The Series B added a third preference class, and it went to the top. Seniority means being paid before another class. Classes that rank pari passu share a tier. If the money runs out inside that tier, they share what there is in proportion to what each is owed.Read Chapter 9, Preference Shares and the Stack →
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