convertible note
C2CEFR level
80/100Rarity: very rare
TechnicalRegister
A short-term debt instrument that converts into equity, typically at the next priced financing round.
We raised the bridge round on a convertible note with a 20% discount and a £6 million cap.
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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