the lowest price per share of the Standard Preferred Stock sold in the Equity Financing multiplied by the Discount Rate.
the price per share of the Standard Preferred Stock sold in the Equity Financing multiplied by the Discount Rate.
Relevant Circumstances
- When convertible securities convert at a discount to the next round's price
- If the discount rate and reference price need to be precisely defined
- Where investors negotiate either a discount or a valuation cap, or both
