SAFEs are becoming more and more common for early staged startups in my country (NZ), for good reasons of course. However, our startup has raised multiple small priced rounds and our investors have pre-emptive rights on new share issues. It's super confusing how pre-emptive rights apply to SAFE notes if investors don't waive their pre-emptive rights. I can't find any examples online explaining how pre-emptives are applied to SAFEs. Would love to hear about anyones experience in this area :)