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Conversion upon qualified financing

Web§ 46.33 Conversion of funds. Any licensee who collects or receives funds for or on behalf of another person or firm in connection with produce shall not make any use or disposition … WebIf, after the date hereof, a Qualified Financing occurs, the entire unpaid principal amount and unpaid accrued interest (if any) of each Note shall be automatically converted into that number of shares of the series of the Company ’s preferred stock issued in the Qualified Financing (the “ New Preferred Stock ”) equal to the quotient of (i) the …

Qualified Financing Sample Clauses: 103 Samples Law Insider

WebGenerally, convertible notes convert into shares (the “Conversion Shares”) at a qualified equity financing round (this term should be defined in the note and usually means a preferred financing round of a minimum size) at the lower of two different prices per share: (1) the price per share using the conversion cap (known as the “Cap Price ... WebApr 13, 2024 · The Company will be obligated to force the conversion (the “ Mandatory Conversion ”) of the principal amount of the then outstanding Notes into Common Shares on not more than 60 days’ and not less than 10 days’ notice in connection with a qualified equity or similar financing (either qualified by a prospectus or by way of a private … blue cross blue shield medicaid kentucky https://glammedupbydior.com

The Mechanics of Converting Convertible Notes - Vela Wood

WebVoluntary Conversion at the Maturity Date. If the Notes have not been previously converted pursuant to a Qualified Financing, then, effective upon the Maturity Date, the Majority Holders may elect to convert each of the Notes into shares of a newly created series of the Company’s preferred stock on the terms and conditions agreed upon by the ... WebSep 19, 2024 · A qualified financing in a convertible note is usually defined as a fundraising of at least a fixed amount of money (for example, $1M), either including … WebConversion The Note holder may convert a Note at any time after a Note has been fully funded. The Note holder may also convert one or more Notes, whether or not fully funded, upon the Maturity Date or the date of a Qualified Financing or Liquidity Event. Any conversion shall be in the sole discretion of the note holder. All conversion free jewel quest games without downloading

AMENDMENT AND CONVERSION AGREEMENT SECURED …

Category:Qualified Financing Sample Clauses: 103 Samples Law Insider

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Conversion upon qualified financing

Terms of Convertible Debt — Angel Investing: Start to Finish

Webthe lower of discount or valuation cap is the most typical formulation of conversion price. The next financing is usually a preferred stock financing made within 12-24 months after the seed financing. The conversion price is the price at which the note converts to equity upon a qualified financing as set forth in Section 6.1 of the note. WebRelated to Automatic Conversion upon a Qualified Financing. Automatic Conversion Upon the automatic conversion of all outstanding shares of the series of equity securities comprising the Exercise Shares, this Warrant shall become exercisable for that number of shares of Common Stock of the Company into which the Exercise Shares would then be …

Conversion upon qualified financing

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WebApr 12, 2024 · Like convertible notes, SAFE agreements convert to equity upon qualified financing. However, unlike convertible notes, SAFE investments have no interest rates or maturity dates. WebMay 4, 2024 · Maturity Date is the date that the note is due, at which point the company needs to either have raised a qualified financing, repay the note, ... causing all of the dilution that results from the shares issued upon conversion of the notes to be absorbed by the founders. You can see below that holding all else constant, the founders here would ...

WebConversion at Qualified Financing. The first way the debt might convert to equity in a convertible note is when a Qualified Financing occurs. ... Upon a qualified financing, the principal and all accrued interest (total investment) converts into shares of preferred stock in the company. The shares will have the exact same preferences, rights ... WebNov 2, 2024 · Conversion at Qualified Financing. The Note will automatically convert upon a Qualified Financing into the same shares sold in the Qualified Financing at a price equal to the lesser of (i) a 20% discount to the price paid by the other investors in the Qualified Financing, or (ii) the price obtained by dividing the valuation cap of $3,000,000 ...

WebIf the securities sold in the Qualified Financing are not shares of the Company’s common stock, the Conversion Price shall be 50% of the lowest price per share for which one share of common stock is then issuable upon the conversion or exercise of the Conversion Securities issued and sold in the Qualified Financing. WebQualified Financing: This term sets the threshold amount of money that must be raised by the company through in a future equity financing in order for the principal and interest …

Webthe repayment or conversion of this Note in an equity financing (a "Qualified Financing"), then the Outstanding Debt of this Note shall automatically convert without …

WebAs used herein, “Qualified Financing” means the sale (or series of related sales) by the Company of its capital stock, or debt or equity securities convertible into or exercisable for its capital stock, in a capital raising transaction, for aggregate gross proceeds to the Company of at least $20,000,000 or such lesser amount as shall be approved … free jewel quest games in orderWebthe cash price paid per share for Equity Securities by the Investors in the Qualified Financing multiplied by 0.92. The issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the same terms and conditions applicable to Equity Securities sold in the Qualified Financing. free jewel quest games iwinWebAs used herein, “Qualified Financing” means the sale (or series of related sales) by the Company of its capital stock, or debt or equity securities convertible into or exercisable … blue cross blue shield medicaid replacement