In case it’s got lost in the main thread, the link shared by HOPR Founder @SCBuergel to the convertible note agreement is here:
In 4.3 what method is actually used to determine the valuation?
Hi, the valuation isn’t actually set at this time. The conversion (which sets the valuation) will happen at the first actual investment round. The HOPR Community Trust will then get a 50% discount and end up with 10-24% of the shares. These limits effectively impose lower and upper bounds of the effective valuation from the total investment of $3m and the shares are 19-24%.