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Test Case: Warrants on Preferred Shares vs. Options on Common Shares

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Many startups at the stage of raising capital from large investors issue preferred shares with warrants on the same share class. Recent market data shows that in the last few years, a large majority of preferred shares are non-participating preferred (CAP X1). With this type of share class and the company value reflecting conversion to … Continue reading Test Case: Warrants on Preferred Shares vs. Options on Common Shares