Priced Round
A financing in which shares are sold at an agreed price per share, as opposed to a SAFE or a convertible note, which defer the price to a later round. The seed round is usually the first priced round, and it is the moment every earlier instrument converts and the cap table becomes a list of share counts rather than promises.
How a startup is financed · 4 of 26Next: Option Pool
Practise it
Take a company from founding through a SAFE and a priced seed round. Set the cap, the pre-money and the option pool, watch the price per share and every holder’s stake move, then check your own arithmetic against the table.
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