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- #SPREADSHEET CONVERTER STOCK PRICE PC#
- #SPREADSHEET CONVERTER STOCK PRICE SERIES#
- #SPREADSHEET CONVERTER STOCK PRICE MAC#
This requires circular references and is built into the model.) Thus, the employee pool has to be grossed up to equal 10% on a post-transaction basis.
#SPREADSHEET CONVERTER STOCK PRICE SERIES#
shares will be diluted by the investment round, here through the conversion of the note AND the Series Seed investment, and thus the 10% employee pool will be less. had 10% reserved prior to the investment round, all of the Startup Inc. (Quick side bar about employee pools – even though Startup Inc.
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#SPREADSHEET CONVERTER STOCK PRICE MAC#
Mac – Click on “Excel,” then “Preferences,” then “Calculation.” Check on “Enable Iterative Calculation” and leave the default values.
#SPREADSHEET CONVERTER STOCK PRICE PC#
PC – Click on “File,” then “Options,” then “Formulas.” Check the box in the upper right that says “Enable Iterative Calculation” and leave the default values. Note that you must have “iterative calculations” turned on in Excel. The second tab is for your personal use once you get the hang of things. The first tab matches up with the example below. We’ve included a copy of our internal model to walk you through it. For illustrative purposes, I’m going to break down how we calculate conversion shares at Vela Wood using circular references in Excel, based on our standard form convertible note.
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The conversion mechanics are dictated by the terms of the convertible note and may vary from note to note. The actual mechanics of converting convertible notes (in other words – calculating conversion shares) is not a simple task and requires great care. They are primarily used for early-stage financings, but they are also a good solution for a bridge round when a company isn’t quite ready for the next equity financing round. Convertible notes are a great tool for venture financing.