3 ms·
Note that this isn't unique to SAFE. If you're using a standard Clerky / YC note, the debt will convert into a mix of preferred and common to ensure there's no
by andrewfong 13y ago
Note that this isn't unique to SAFE. If you're using a standard Clerky / YC note, the debt will convert into a mix of preferred and common to ensure there's no extra liquidation preference.
- clevy 13y agoCorrect - the notes had this feature too, except that rather than shadow preferred, it was the preferred / common "unit" concept. The net result was the same.