Define: Conversion Price
the either: (1) the Safe Price or (2) the Discount Price, whichever calculation results in a greater number of shares of Safe Preferred Stock.
the either: (1) the Safe Price or (2) the Discount Price, whichever calculation results in a greater number of shares of Safe Preferred Stock.
Relevant Circumstances
- When a SAFE converts at the better of the cap price or discount price
- If the calculation must maximise shares delivered to the SAFE holder
- Where conversion mechanics require selecting between two formulas