Hi Haw, apologies if my question was unclear. I think I am mixing up a few questions.
What I am asking is how do SAFEs and convertible notes convert into common shares during a priced round?
When calculating fully diluted shares, do you count preferred shares like common shares - i read that conversion can be done on a 1:1 basis but other ratios may apply - any idea of the typical conversion ratios that may be applied for converting preferred into common shares?
Sorry maybe I should have split these into 2 separate questions. Many thanks in advance for clarifying!
What I am asking is how do SAFEs and convertible notes convert into common shares during a priced round?
When calculating fully diluted shares, do you count preferred shares like common shares - i read that conversion can be done on a 1:1 basis but other ratios may apply - any idea of the typical conversion ratios that may be applied for converting preferred into common shares?
Sorry maybe I should have split these into 2 separate questions. Many thanks in advance for clarifying!