convertible
B1CEFR level
35/100Rarity: fairly common
TechnicalRegister
Law adjective
Describing securities that may be exchanged for shares of another class.
The convertible loan notes were later converted into ordinary shares.
Business noun
A short-term loan that converts into equity at a later financing round.
Early angels came in on a convertible rather than negotiating a price so soon.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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