What’s the best way to raise in convertible notes or in your priced equity round?

Mark Suster (Managing Partner at Upfront Ventures)
Is Convertible Debt Preferable to Equity? | Bothsides of the Table

Should entrepreneurs ever prefer a priced equity round to convertible debt? If you have a choice between pricing a round and not pricing a round for the exact same investors then it is in the entrepreneur’s best interest not to price it and I could understand why one would do this.