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3 | Let's build your securities ledger together (aka the capitalization table or 'captable') recording all your investors, founders and employees' equity ownership. | |
4 | ||
5 | Guidance | |
6 | Start by filling out the 'Captable' tab, with number of founders, targetted ownership, size of your pool. | |
7 | Once you are ready to kick-off your fundraising, you can target amount to raise and the valuation. | |
8 | Go to the 'SAFEs tracker' tab to add the investors and their committed investment amount, the Captable will be updated based on this tab. | |
9 | The Captable will give an overview of the dilution after issuing shares to founders, creating a stock plan (ESOP), and raising your first SAFE round. | |
10 | This template doesn't work if you are raising an equity round. | |
11 | ||
12 | Terms | |
13 | The following terms apply to your use of this document and your agreement to these terms is required before you are permitted to use this document. | |
14 | This document is provided for your reference only by Default Global, Inc. and is not intended to serve as legal, tax, or financial advice. USE OF THIS DOCUMENT IS ENTIRELY AT YOUR OWN RISK. | |
15 | This document is provided “as is” without warranty of any kind, either express, implied, or statutory, including without limitation, warranties of merchantability, fitness for a particular purpose, satisfactory purpose, title or noninfringement. Some jurisdictions do not allow the exclusion of implied warranties, so these exclusions may not apply to you. |
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6 | [Add Company Logo] | [Name of Company] | ||||||
7 | Captable | |||||||
8 | Last update: | [add date] | ||||||
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11 | Date of Incorporation | |||||||
12 | Share authorized are the total available shares | Authorized shares | 10,000,000 | |||||
13 | It is standard for VC-backed company to set it | Par value | $0.00001 | |||||
14 | at 10,000,000 | |||||||
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16 | Step 1 | Captable Model | ||||||
17 | Pre-Financing % | Post-SAFE Financing % | ||||||
18 | Common | % (NFD) | % (FD) | SAFEs | % (FD) | |||
19 | Common Holders | |||||||
20 | Add each founder, and reserve some shares for the option pool | Founder 1 | 4,750,000 | 50.00% | 47.50% | 4,750,000 | 41.86% | |
21 | Founder 2 | 4,750,000 | 50.00% | 47.50% | 4,750,000 | 41.86% | ||
22 | Sub-Totals | 9,500,000 | 100.00% | 95.00% | 9,500,000 | 83.72% | ||
23 | Investors | |||||||
24 | SAFE 1 - $5M post | 850,983 | 7.50% | |||||
25 | SAFE 2 - $7M post | 496,453 | 4.38% | |||||
26 | To size the ESOP: | ESOP | 500,000 | 5.00% | 500,000 | 4.41% | ||
27 | You want enough shares to incentivize | Allocated (Advisor 1) | 0.00% | 0.00% | ||||
28 | your team until the next fundraising | Employee 1 | ||||||
29 | No need to create a big ESOP, you can | Unallocated | 500,000 | 5.00% | 500,000 | 4.41% | ||
30 | increase it over time. | Totals | 10,000,000 | 100.00% | 11,347,436 | 100% | ||
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35 | Step 2 | SAFE Conversion Simulation | ||||||
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37 | This is the total number of shares that could potentially exist if all rights to convert or exercise securities into shares were executed. | Company Capitalization (includes conversion of SAFE, issued and outstanding options, promised options, unissued option pool except any increase in connection with the Series Seed ) | 11,347,436 | |||||
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39 | Principal ($) | Post-Money Valuation Cap | Date | Safe Price ($) | Safe Preferred Stock | |||
40 | In this part, you can keep control of the | SAFE 1 - $5M post | 450,000.00 | 6,000,000.00 | 0.5288 | 850,983 | ||
41 | dilution. | SAFE 2 - $7M post | 350,000.00 | 8,000,000.00 | 0.705 | 496,453 | ||
42 | Based on the valuation and the $ you raise | Total | 800,000.00 | 1,347,436 | ||||
43 | you can track how much of the company | |||||||
44 | you are selling. Play with it | |||||||
1 | Instructions | ||||||||||||
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2 | Add the name of the entity of each investor, the invested amount, date of signature of the Safe, and the Cap, etc. | ||||||||||||
3 | Investor | $$Principal | Date | Discount | Post-Money Cap | SAFE Status | Signature Status | Wire status | Signatory | Email Signatory | Investors Address | By Lines / Signature Block | |
4 | $200,000.00 | $5,000,000 | SAFE sent | Signed | Received | ||||||||
5 | $150,000.00 | $5,000,000 | Not Sent | Signature pending | Pending | ||||||||
6 | $100,000.00 | $5,000,000 | Not Sent | Signature pending | Pending | ||||||||
7 | $50,000.00 | $7,000,000 | Not Sent | Signature pending | Pending | ||||||||
8 | $75,000.00 | $7,000,000 | Not Sent | Signature pending | Pending | ||||||||
9 | $225,000.00 | $7,000,000 | Not Sent | Signature pending | Pending | ||||||||
10 | Total | $800,000.00 |