I would strongly advise against doing this on your own without the help of a lawyer. It’s tricky and likely the cost of counsel would be minimal in light of the potential risk that you could incur if things do not go as planned.
When considering whether to hire counsel think of the following considerations.
- Legal services saved by going DIY
- Lost opportunities, direct and indirect costs related to making a mistake in this document (if you are unable to articulate potential scenarios that could go wrong you should work with a lawyer).
We’ve executed KISS, SAFE, and other convertible notes onfor <$1k through vetted ex-big law firm attorneys. So it might make sense to give it a consideration and book a free consult.
Best of luck either way! The first check in is always the best feeling 🙂