What are Convertible Promissory Notes and can I review them with TermScout?
What is a Convertible Promissory Note?
Convertible promissory notes are debt instruments that can convert into equity under specific conditions. They are commonly used in early-stage startup funding. These agreements typically outline the loan amount, interest rate, repayment terms, and the conversion terms, such as the conversion price or discount, conversion triggers, and other terms related to the conversion into equity.
Does TermScout support Convertible Promissory Notes?
If you would like to see the complete list of contract types supported by TermScout, you can do so by visiting the relevant article here. This list includes all the contract types that our platform can analyze, including but not limited to Convertible Promissory Notes, SAFEs, and more. Understanding which contracts our platform can analyze is essential to ensuring that you're getting the most out of your TermScout subscription. So, be sure to check out the article for a comprehensive list.