A convertible note purchase agreement isB an agreement between certain investors and a company that binds all the investors to the same terms and conditions for a particular round of convertible debt financing. Convertible debt is debt that can be converted into equity.
A Convertible Note is a loan instrument, but upon the occurrence of an "Equity Financing" - such as raising money from VCs - the note will convert into equity. This particular note contemplates a discount as a concession to note purchasers. Other concessions include a valuation cap and/or warrants, which this note does not consider. There are two pieces to this document: 1) the Note Purchase Agreement and 2) the Note. This is similar to a Stock Purchase Agreement and the underlying Stock Certificate, which symbolizes the actual stock held by the purchaser. The Note Purchase Agreement contains many of the key terms of the Note. This is especially helpful if you have multiple people purchasing Notes under the same agreement and you need to make an amendment - there is a governing umbrella agreement that can be amended vs. having to amend.
Bakersfield California Convertible Note Purchase Agreement
State:
Multi-State
City:
Bakersfield
Control #:
US-ENTREP-00120-1
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Industries in and around Bakersfield include natural gas and other energy extraction, mining, petroleum refining, distribution, food processing, and corporate regional offices. The city is the birthplace of the country music genre known as the Bakersfield sound.
Dubbed ?Nashville West,? Bakersfield is renowned for its contributions to country music and is the home of many recording artists, including Merle Haggard and Buck Owens. Educational institutions include Bakersfield (community) College (founded 1913) and California State University, Bakersfield (1965).
Living in Bakersfield offers residents a dense suburban feel and most residents own their homes. In Bakersfield there are a lot of parks. Many families and young professionals live in Bakersfield and residents tend to have moderate political views. The public schools in Bakersfield are above average.
In 2021, there were 1.13 times more White (Non-Hispanic) residents (122k people) in Bakersfield, CA than any other race or ethnicity. There were 108k White (Hispanic) and 55.6k Other (Hispanic) residents, the second and third most common ethnic groups. 52% of the people in Bakersfield, CA are hispanic (207k people).
Bakersfield, California's cost of living is 10% higher than the national average.
Bakersfield was first established in 1859. It was originally known as Kern County. The original name of the town was Wheat Fields, and it was later changed to Bakersfield in 1863 named after Thomas Baker who settled on the banks of the Kern river due to the California gold rush.
Industries in and around Bakersfield include natural gas and other energy extraction, mining, petroleum refining, distribution, food processing, and corporate regional offices. The city is the birthplace of the country music genre known as the Bakersfield sound.
With a population of around 405,000, Bakersfield saw a violent crime rate of 498 per 100,000 in 2022, which is 27% higher than the national average, ing to the study. In 2022, there were over 15,500 incidents of property crime in Bakersfield, PropertClub says.
