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Convertible (Adjective)

Capable of being changed in substance as if by alchemy; "is lead really transmutable into gold?"; "ideas translatable into reality".

All adjective clusters.

Designed to be changed from one use or form to another; "a convertible sofa"; "a convertible coupe".

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Capable of being exchanged for or replaced by something of equal value; "convertible securities".

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The company issued convertible bonds that could be exchanged for common stock at a later date.
The investor purchased a convertible note that could be converted into equity if the startup met certain milestones.
The firm's convertible preferred stock was attractive to investors due to its potential for upside.
The convertible debenture allowed the lender to exchange the debt for a stake in the company if it chose to do so.
The convertible security was a hybrid instrument that combined elements of debt and equity.