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NEW CO, INC. CONVERTIBLE PROMISSORY NOTE PURCHASE AGREEMENT This Convertible Promissory Note Purchase Agreement (the Agreement) is made as of, 20 (the Effective Date) by and among New co, Inc., a

How to fill out this convertible promissory note

How to fill out this convertible promissory note

1. Read the convertible promissory note carefully and understand its terms and conditions.
2. Fill in the date of the note at the top.
3. Enter the name of the borrower and the lender in the designated fields.
4. Specify the principal amount of the loan and the interest rate agreed upon.
5. Clearly state the maturity date of the note, i.e., the date by which the loan must be repaid.
6. Include any conversion terms, such as the conversion rate and circumstances under which the note converts into equity.
7. Provide a space for the borrower's signature, date, and contact information.
8. Also, include a space for the lender's signature, date, and contact information.
9. Review the completed convertible promissory note for accuracy before finalizing it.
10. Make copies of the note for both the borrower and the lender for their records.

Who needs this convertible promissory note?

1. Start-up companies that need funding but are unable to secure conventional loans.
2. Investors who want to provide funds to start-ups in exchange for potential equity in the future.
3. Entrepreneurs and business owners who want to borrow money from friends, family, or angel investors.
4. Companies seeking bridge financing before a larger funding round or anticipated exit event.
5. Tech companies in early stages of development that often use convertible promissory notes as a funding mechanism.
6. Individuals or entities entering into loan agreements with a conversion feature to participate in the potential upside of the borrower's success.

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What is this convertible promissory note?

A convertible promissory note is a debt instrument that can be converted into equity or stock in a company.

Who is required to file this convertible promissory note?

The company issuing the convertible promissory note and the recipient of the note are required to file it.

How to fill out this convertible promissory note?

The convertible promissory note should include details such as the principal amount, interest rate, maturity date, conversion terms, and signatures of both parties.

What is the purpose of this convertible promissory note?

The purpose of a convertible promissory note is to provide a flexible financing option for a company while allowing investors the opportunity to convert their debt into equity.

What information must be reported on this convertible promissory note?

The convertible promissory note should include details about the loan amount, interest rate, maturity date, conversion terms, and any additional terms agreed upon by both parties.