full ratchet
C2CEFR level
90/100Rarity: very rare
TechnicalRegister
An anti-dilution term that reprices earlier shares down to the lowest price of any later round.
The full ratchet crushed the common holders when the bridge came in at half the last valuation.
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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