A Convertible Promissory Note (CPN) is a loan agreement that can be converted into equity at a later date, often used by startups and other early-stage companies.
This legal template is a document that outlines the terms and conditions of a Convertible Promissory Note, specifically tailored for use under USA law. It provides a framework for parties involved in a financial transaction, specifying the amount borrowed, repayment terms, interest rate, and conversion details should the debt be converted into equity at a later stage.
