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This document outlines the terms of a Convertible Promissory Note issued by Culture Kombucha Inc., including conditions for loan repayment, interest, and conversion into shares.
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How to fill out convertible promissory note

01
Start by inputting the date at the top of the convertible promissory note.
02
Identify the parties involved - the lender and the borrower.
03
Specify the principal amount being borrowed and the interest rate, if applicable.
04
Outline the terms of repayment, including any specific conditions or deadlines.
05
Include details about conversion rights, if applicable, such as the conversion rate and conditions for conversion.
06
Provide space for signatures from both parties to finalize the agreement.

Who needs convertible promissory note?

01
Startup companies looking to raise funds from investors.
02
Investors looking to provide funding to startups with the potential for future equity.
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A convertible promissory note is a type of debt instrument that allows the holder to convert the amount owed into equity in the issuing company, typically at a later date or upon certain events.
Entities that issue convertible promissory notes as a form of financing are typically required to file them, including startups and companies seeking to raise capital through investments.
To fill out a convertible promissory note, one must include details such as the principal amount, interest rate, maturity date, conversion terms, and any associated covenants or conditions.
The purpose of a convertible promissory note is to raise funds while providing investors with the option to convert their debt into equity, potentially benefiting from the company's future growth.
The information that must be reported includes the terms of the note, the parties involved, interest rate, maturity date, and specifics regarding the conversion mechanism.
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