What is a convertible note?Updated 3 days ago

A convertible note is a type of investment commonly used by private companies. Rather than receiving shares immediately, your investment is designed to convert into equity when a future qualifying funding round takes place, such as AKT's next priced Series B round.

As part of this round, investors (you) receive a 20% discount to the price paid by new Series B investors. In other words, when your investment converts, it will do so at a price that is 20% lower than the price paid by qualifying investors in that future funding round.