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> In an effort to use a standard and straightforward structure, we provide this capital via an uncapped convertible instrument modeled after the Simple Agreemen
by jsprogrammer 12y ago
> In an effort to use a standard and straightforward structure, we provide this capital via an uncapped convertible instrument modeled after the Simple Agreement for Future Equity (SAFE) financing documents. In addition, Highland will have the option to invest up to $250k in the first $1M you raise in excess of the aforementioned $20k note.
1) The word "note" only appears one time on the page, so what does "aforementioned" mean? Is this a debt instrument?
2) The "Simple Agreement for Future Equity (SAFE)" appears to be unavailable, or atleast is not linked anywhere in the document linked by HN (summer.hcp.com).
- SeoxyS 12y agoThe SAFE refers to a YC standard financing document loosely modeled after convertible debt: https://www.ycombinator.com/documents/ https://www.ycombinator.com/documents/
- jsprogrammer 12y agoHC doesn't claim to use any of those documents, only one "modeled" after them. The fact that they don't link to, or even describe (except in the most obtuse terms), the documents they refer to should be a huge red flag to anyone considering this offer. Also, how can something that has no less than five versions [including a "primer"] of 6+ pages of dense wording which refer to federal laws from the 1930's be described as "simple"?