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This is an example of WISE conversion calculations, in the case where you have agreed on a fixed share price in the new round. If you have agreed on a pre-money valuation instead, see another sheet.
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If you want to play around, please make a copy of this document. Please note that this document is solely intented as support while calculating the number of shares the WISE
investor should receive at conversion. It may not cover all edge cases and there may even be typos in the formulas. Use it at your own risk and compare with your own calculations.
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If you want to learn about the WISE convertible and download the documents, go to https://startuptools.org/se/wise-convertible/
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Latest non-trivial update: 18 June 2021
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WISE details
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Invested amount2 000 000
The amount invested via WISE to be converted
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Discount0%
Defined in WISE Terms § 1
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Cap20 000 000
Defined in WISE Terms § 1. Can be compared to the discounted non-diluted pre-money valuation on row 21.
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Floor10 000 000
Defined in WISE Terms § 1 (typically 50% of the cap)
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Price per WISE warrant20
Defined in WISE Terms § 2.1 (calculated as the cap divided by fully diluted number of shares at the time of issuing the WISE)
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Number of WISE warrants100 000
The number of issued WISE warrants. See WISE Terms § 2.2.
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Current state
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Pre-round #real shares1 000 000
Only count real shares (no options, convertibles, WISE etc.)
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Pre-round #virtual shares100 000
The number of shares that all existing options, convertibles etc. would convert into if they were to be converted to shares today. Exclude the WISE that are now converting (calculated on row 23 below).
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New round
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Non-diluted pre-money valuation21 000 000
The calculated non-diluted (only counting real issued shares) pre-money valuation, based on the share price below.
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The above valuation after discount
21 000 000
This is compared to the cap on row 10.
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The above valuation after discount and cap
20 000 000
This is the same as "V" in WISE Terms §5.3.
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Fully diluted pre-money valuation25 200 000
The agreed fully diluted (including options, convertibles, WISE etc.) pre-money valuation. NB: If you have agreed on another definition of the valuation, this sheet is not for you!
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Shares per WISE warrant1,00000
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Shares issued to the WISE investors
100 000
Not rounded (needs to be rounded for each investor)
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Pre-round #fully diluted shares1 200 000
This includes all shares, options and convertibles, plus the WISE that are now converting
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Share price in new round21,0000
Rounded to four decimals, calculated based on the defined pre-money valuation above.
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V_uncapped21 000 000
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V20 000 000
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