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Maybe someone can help me out here, with something I don't understand. What happens to the convertible note if you never go on to raise another round, but you
by ryanjmo 16y ago
Maybe someone can help me out here, with something I don't understand.
What happens to the convertible note if you never go on to raise another round, but you still have a successful business that generates a lot of cash for yourself?
- aditya 16y agoDepends on the terms - it could convert to equity, get paid back, or have it's maturity date extended... More here: http://www.startupcompanylawyer.com/2007/04/29/what-happens-to-the-convertible-promissory-note-if-the-maturity-date-is-reached-and-there-hasnt-been-a-financing/ http://www.startupcompanylawyer.com/2007/04/29/what-happens-...
- joshu 16y agotypically they convert to common or preferred after one or two years.