Antidilution provisions

Contractual measures that allow investors in convertible preferred shares to an automatic reduction in the conversion price, meaning more common shares on conversion, if a subsequent round is a "down round," thereby mitigating down round dilution. [See Full Ratchet and Broad Based Weighted Average]

Cap Table With Full Ratchet and Broad Based Weighted Average

Waterfall With Full Ratchet and Broad Based Weighted Average

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