Toxic Financing Explained We have reviewed countless financing proposal and documents on behalf of our clients over the years. It seems lately that we have had a surge in calls recently asking us to review documents that were for toxic…
Tag Archive for Floorless convertible
A floorless convertible is a convertible instrument such as a preferred stock or debt that lacks a hard floor. A hard floor is the lowest price the preferred shares or debt can be converted into common shares.
A floorless convertible is what creates a downward spiral to a company’s stock price, making the funding toxic.