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In this tutorial, Scott from Cruise Consulting discusses a sample convertible note agreement. He emphasizes the importance of using a law firm's template for such documents, as they will manage the deal's documentation. Key components of the convertible note include the loan amount, repayment terms, and the valuation cap. Scott also touches on the conversion terms, noting that institutional VCs typically prefer preferred shares over common shares. He encourages viewers to review the convertible note template for valuable insights, although he suggests relying on legal professionals for final documentation.
