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How this calculator works
Conversion amount = principal × (1 + rate × months ÷ 12), using simple interest. The note converts at the lower of the cap price (cap ÷ shares) or the discounted round price.
Frequently asked questions
Is interest paid in cash?
Usually not. On most startup notes the interest accrues and converts into shares along with the principal.
What happens if there is no next round?
The note has a maturity date. Terms vary: it may be extended, converted at a set valuation or, in rare cases, repaid.
Results are estimates based on the numbers you enter and simplified assumptions. They are not financial advice. See our disclaimer.