investors who act conditionally on other investors are the worst
(but still are the majority so you have to account for them)
as you said pro-rata can't be after the fact. The company needs to know how much equity it is selling and can't allocate to new investors without knowing what the company has available
(but still are the majority so you have to account for them)
as you said pro-rata can't be after the fact. The company needs to know how much equity it is selling and can't allocate to new investors without knowing what the company has available