SERIES A PREFERRED STOCK is the first round of stock offered during the seed or early stage round by a portfolio company to the venture investor or fund. This stock is convertible into common stock in certain cases such as an IPO or the sale of the company. Later rounds of preferred stock in a private company are called Series B, Series C and so on.
NIFO is Next-In, First-Out.
PAYMENT is the satisfaction of a debt or claim; primarily money paid to fulfill an obligation.
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