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G/YCombinator-SAFE-2020/Form/Discount-NoCap
/
v1-1.md
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BusinessNote
=
This is a Discount only (no Cap) form. It extends the Base form (see below, at the bottom).
Note.Title
=
Simple Agreement for Future Equity - Discount Only
CodersNote
=
The Discount Rate is 100% minus the discount.
Intro.7.sec
=
The “{
DefT.Discount_Rate
}” is {
DiscountRate.%
}.
Event.Equity.1.ConversionTarget.cl
=
the number of shares of {
_Safe_Preferred_Stock
} equal to the {
_Purchase_Amount
} divided by the {
_Discount_Price
}
Event.Equity.2.ConversionTarget.cl
=
{
_Safe_Preferred_Stock
}
Def.Discount_Price.sec
=
“{
DefT.Discount_Price
}” means the lowest price per share of the {
_Standard_Preferred_Stock
} sold in the {
_Equity_Financing
} multiplied by the {
_Discount_Rate
}.
Def.Liquidity_Price.Valuation.cl
=
the fair market value of the {
_Common_Stock
} at the time of the {
_Liquidity_Event
}, as determined by reference to the purchase price payable in connection with such {
_Liquidity_Event
}, multiplied by the {
_Discount_Rate
}
Def.Safe_Preferred_Stock.ReferencePrice.cl
=
{
_Discount_Price
}
CodersNote
=
Deleted {
Def.Company_Capitalization.sec
} {
Def.Converting_Securities.sec
} {
Def.Liquidity_Capitalization.sec
} {
Def.Options.sec
} {
Def.Promised_Options.sec
} {
Def.Safe_Price.sec
} {
Def.Unissued_Option_Pool.sec
}
CodersNote
=
Added {
Def.Discount_Price.sec
}
Def.sec
=
{
Def.Capital_Stock.sec
}
{
Def.Change_of_Control.sec
}
{
Def.Direct_Listing.sec
}
{
Def.Discount_Price.sec
}
{
Def.Dissolution_Event.sec
}
{
Def.Dividend_Amount.sec
}
{
Def.Equity_Financing.sec
}
{
Def.Initial_Public_Offering.sec
}
{
Def.Liquidity_Event.sec
}
{
Def.Liquidity_Price.sec
}
{
Def.Proceeds.sec
}
{
Def.Safe.sec
}
{
Def.Safe_Preferred_Stock.sec
}
{
Def.Standard_Preferred_Stock.sec
}
=
[G/YCombinator-SAFE-2020/Form/Base/v1-1.md]
CodersNote
=
Is this an intended difference or an accidental variation from the Cap and MFN varieties?
Def.Standard_Preferred.the/a
=
the
Note
=
US Tweaks:
=
[G/YCombinator-SAFE-2020/Form/Z/US-Tweaks.md]
/Docs/G/YCombinator-SAFE-2020/Form/Discount-NoCap/v1-1.md