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English to Polish translations [PRO]
Bus/Financial - Investment / Securities / Venture Capital | | English term or phrase: Full ratchet adjustment | The conversion formula adjustment is typically referred to as "antidilution protection" and there are two types: full ratchet adjustment and weighted average ratchet adjustment.
Czy jest jakieś oficjalne albo semioficjalne tłumaczenie tego terminu?
Wyjaśnienie mechanizmu:
Full ratchet is the most onerous from the Founder's viewpoint. If the company issues even one share of stock at a price below the price paid by the investors then the conversion price drops fully to that price. For example, assume the Founder owns 1,000,000 shares of common stock and the Investor purchases 1,000,000 shares of Convertible Preferred Stock at a price of $1.00 per share, which is convertible into common stock at that price ($1,000,000 initial purchase price divided by $1.00 conversion price equals 1,000,000 shares of common stock) so that each owns 50% of the company. Under a full ratchet if the company issues one share at a price of $0.10 then the conversion price becomes $0.10 and the Investor can then convert his 1,000,000 shares of Convertible Preferred Stock into 10,000,000 shares of common stock ($1,000,000 initial purchase price divided by $.10 conversion price) thereby resulting in the Founder owning 1/11th of the company and the Investor owning 10/11ths. |
| GlaurungKudoZ activityQuestions: 9 (none open) ( 3 closed without grading) Answers: 142
Poland
| Local time: 18:47
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| | pełna korekta | Explanation:
W literarturze "full ratchet" oznacza "complete adjustment". |
| Selected response from:
Roman Kozierkiewicz
Local time: 18:47
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