Founded in 2017, Cherry Street Pharmacy is a California Central Valley-based company that aims to deliver wide-ranging healthcare services to underserved areas. The company offers a robust selection of services like prescription delivery, personalized health programs, pet care, and health content that customers can access both online and from the company’s brick-and-mortar location. The company has grown quickly without much spend on advertising and with no outside equity capital investment.[Read More]
A convertible security is a security that can be converted into another security, typically equity in the next round of financing.
Debt and Equity Opportunity
August 18, 2020
November 01, 2021
Open to Investors
Discount Rate: 20%
Conversion Provisions: In connection with equity financing of at least $1,000,000, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $13,000,000 or $15,000,000 valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.
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