Question: A convertible note:C _ _ a . operates like a convertible preferred stock. _ _ b . is like debt unless the entrepreneur chooses to

A convertible note:C
__a. operates like a convertible preferred stock.
__b. is like debt unless the entrepreneur chooses to have it convert to equity.
__c. allows the investor and the entrepreneur to avoid pricing the round.
__d. requires some form of valuation cap in order to be fair to the entrepreneur.

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