Ask HN: Convertible Debt AND Equity Seed Round

Hi all, There are plenty of articles out there that talk about Convertible Debt vs Equity however I'm currently in a position where I have offers for both Convertible Debt AND term sheets for the sale of Equity from different investors. I've been offered a convertible debt note that is at a different rate to the valuation that I'm pushing out in the term sheets to other straight equity investors. What happens in this scenario and how should I proceed?