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Anti-Dilution Protection Clause Spec

The founder (or counsel) has a complete, parameterized anti-dilution clause specification for each series, ready for the shareholders' agreement.

You receive: A JSON object { series[], carveOuts[] } where series[] is an array of { seriesName, method (enum: full_ratchet|broad_based_wa|narrow_based_wa|none), originalIssuePrice, currentConversionPrice, conversionRatio, appliesToDownRoundOnly (bool) } and carveOuts[] is an array of { carveOutId, description, category (enum: option_pool|conversion|stock_split|ma_consideration|board_approved|other) }

Part of Pitch Investors

What's verified: STUD verifies each series has a permitted method, the conversion ratio is arithmetically consistent with the issue/conversion prices, protection is down-round-gated, and the required carve-out categories are present. STUD does NOT compute the adjusted share counts for a specific future round and does NOT judge whether the chosen method is founder-favorable. Not legal advice.