Amount$200M
SeriesConvertible Note
AnnouncedAug 18, 2025
Time since last round474 mo
Mixed
A mixed round — some signals are off the norm.
Round size vs peers
Far above the typical Convertible Note round (66.7× the median) — an outlier.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Convertible Note rounds (55)
Round size distribution91th pct
smaller Convertible Note roundslarger
