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New conversion price First Round: $1.00 New conversion price First Round: $1.50
Additional shares 1,000,000 Additional shares 333,333
Total shares on Total shares on
conversion: 3,000,000 conversion: 2,333,333
Preferred Stock Provisions (cont.)
Participation in Future Rounds of Financing
– Preemptive Right - the preferred stockholders have the right
to maintain their pro rata interest in the company
– Right of First Offer - the preferred stockholders as a whole
can take the entire amount of the financing