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Note that the $120k funding is broken into $20k cash and the option for an additional $100k convertible debt note.

• jknightco 13y ago
  I think that's the standard for Techstars these days: http://www.techstars.com/program/faqs/ http://www.techstars.com/program/faqs/ Looks like its $18k cash and $100k convertible.
  • ixmatus 13y ago
    Convertible or priced (we did a convertible note). The 100k is optional. It was for us at least.
    • alecsmart1 13y ago
      Can you please explain what convertible debt note means?
      • uniclaude 13y ago
        There is a good explanation there: http://techcrunch.com/2012/04/07/convertible-note-seed-financings/ http://techcrunch.com/2012/04/07/convertible-note-seed-finan...
• pg 13y ago
  Is there a valuation cap on the convertible note?