These are the scenarios I can think of in which we screw ourselves by converting: 1) If Company raises more money (Series A) post maturity we don't get the fav

These are the scenarios I can think of in which we screw ourselves by converting: 1) If Company raises more money (Series A) post maturity we don't get the favorable conversion terms promised. (It may be very bad if the new investor values the company at less than the cap). 2) If Company is acquired post maturity it's incredibly unlikely the purchase price will yield more than the 3x on the note. 3) If Company goes into default after maturity, then we have better standing for getting proceeds holding the note (debt) than shares.