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| 7 October 2017

Convertible Loan Note

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A loan to the company which converts into Preference Shares or Ordinary Shares at a specific price and generally during a specified period. The conversion will usually be at a discount to the company’s share price. Convertible Loan Notes are used to bridge the company between rounds of Preference Share issues so are often granted to Angel Investors, Seed Investors or other existing investors in the company.

ScaleUp has a Convertible Loan Note document {here}.