tldr; $125k for 7%, + $375k on an uncapped MFN (most favored nation) clause note. there's going to be a lot of MFN notes flying around, which should streamline a lot of early raises, will further a dynamic where the first investor who has the $ to price a round has lots of powerhttps://twitter.com/ycombinator/status/1480594667502649344 …
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Replying to @DanielleFong
Sorry, but can you do a thread on the MFN thing, its not obvious how it works ?
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Replying to @Samuel_Orogun
basically, the money on an uncapped MFN note is added as an investment priced at the same price per share as the next priced round. more here, and the 3rd link is the actual document.https://www.ycombinator.com/documents/
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Replying to @DanielleFong
So, the MFN has no paper value till the next round ?
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Replying to @Samuel_Orogun
correct they are not priced. they still have value, though
12:48 PM - 10 Jan 2022
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