I invested in a friends company early, hence the SAFE note.
He has new money coming in. They sent out an amendment asking to remove the valuation cap of 4 million and give us a 20% discount to the new money raised (seven figure number).
I have never heard of such a thing. The company is claiming the new money is requiring that to invest.
I appreciate the collective wisdom here. Have any of you had a similar situation? What would you do?
He has new money coming in. They sent out an amendment asking to remove the valuation cap of 4 million and give us a 20% discount to the new money raised (seven figure number).
I have never heard of such a thing. The company is claiming the new money is requiring that to invest.
I appreciate the collective wisdom here. Have any of you had a similar situation? What would you do?
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