Closing Angel Investors

Closing Angel Investors: "So for example, if the revenue royalty is 2% that means that every month that percentage is paid back to the investors. (These payments are made only after the company has actually received payment from its customers.They are not made on accounts receivable.) It's a hybrid instrument because it normally comes with an equity kicker. This means that once the investor has gotten back his principal plus interest, he can also hold onto a few percentage points of equity"