Convertible Promissory Notes
Note converts to common stock when the company raises $7,000,000 in a qualified equity financing.
Maturity Date: 9/18/2020
Discount Rate: 20%
Valuation Cap: $40,000,000
Annual Interest Rate: 5%
Maximum ($107,000) of Convertible Promissory Notes
Minimum ($10,000) of Convertible Promissory Notes
What is a Convertible Note?
A convertible note offers you the right to receive common stock in Ant Bicycle. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $7,000,000 in qualified equity financing. The highest conversion price per security is set based on a $40,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing. You also receive 5% interest per year added to your investment. When the maturity date is reached, if the note has not converted then you are entitled to receive common stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding common shares of the Company as of immediately prior (on a fully diluted basis), subject to discount rate, if applicable.
Perks are available through July 17, 2019.
Invest $300 and receive ONE year of free membership to use our smart vehicles including electric bikes and e-scooters
Invest $600 and receive THREE years of free membership to use our smart vehicles including electric bikes and e-scooters
*All perks occur after the offering is completed.
*For details on the bonus, please see the Offering Summary below.