Click Issue new interests. Select the relevant Interest type for issuing the new interests.
Draft one or more interests simultaneously using the in-app spreadsheet.
Input | Description |
Interest Holder | The individual or organization entitled to an interest |
Quantity | The total number of units represented by this interest |
Issue Date | The date on which the interest was issued to the holder |
Documents | Legal documents specifying the terms for each interest |
Only for interest types with original issue price tracking
Original Issue Price | The original price per unit, at time of issuance |
Only for capital interest types
Invested Capital | The total amount of capital invested in association with this interest. This is also the principal for calculating any preferred return. |
Liquidation Multiplier | The multiple applicable at liquidation time for this interest. Allow investors to receive a “multiple” of their liquidation preference before choosing to convert their preferred shares into common shares. |
Participation Cap Type | The type of cap on the holder’s participation in “remaining proceeds” |
Participation Cap Multiple | The multiple (usually of their liquidation preference) used to determine the holder’s participation cap |
Conversion Type | The method used when converting the interest to common |
Conversion Multiple | The capital interest conversion multiple |
Only for capital interest types with a preferred return
Compounding Period | The time period over which preferred return accrual compounds on top of the invested capital amount. Set to “Simple (not compounding)” to use preferred return accrual without compounding. |
Accrual Period | The time period over which preferred return accrues on top of invested capital |
Accrual Rate | The annual rate at which preferred return accrues on top of invested capital. Always use the annualized rate, even if the compounding or accrual periods are not yearly. |
Day Count Convention | The method used to counting days when calculating preferred return accrual |
Only for interests types with vesting
Vesting Plan Template | A standard template used to generate the vesting plan for this interest * This column is only available for interest types which use vesting |
Vesting Plan Start Date | The start date for any time based vesting conditions on a vesting plan * This column is only available for interest types which use vesting |
Only for interest types with appreciation rights
Threshold Type and Value | Also known as Hurdle Rate. Either Overall or Per Unit, the value above which the holder is entitled to gains in the value of the business |
Only for interest types which are exercisable
Strike Price | The interest’s strike price |
Only for interests issued to a new holder
Tax ID Type and Tax ID | The type and ID number of the new interest holder |
Group | Optional, the group to which the new interest holder belongs |
Employee ID | Optional, the interest holder’s employee ID |
Address, City, State or Province, ZIP code and country | The interest holder’s contact address |
When issuing interests, admins can issue to existing interest holders by searching for their name in the Interest Holder column. If a new interest holder needs to be created, type their name into the field, and the system will recognize that the new holder should be added.
Click Match or Create Holders to identify which interest holders are new.
Click the cell under Documents for the interest holder and select Add document.
Upload a new or select an existing document using the dialog.
Any documents added in this step will require the interest holder’s agreement upon accepting their electronic interest.
Upload new documents or check off an existing document from the list, and click Add attachments.
If the interest type was set up with an authorized quantity, you can check the impact to the authorized count in the top right corner of the page.
After the interest drafts are ready to be issued, click Next: Review to check for errors.
Review the interests’ details and how they will impact the interest type’s authorized count, if applicable.
Click Issue new interests to complete the process.
The holder will not receive notification until the interest is shared with them.
Any interests that are issued with a template agreement will be sent to the company's designated signatory to be signed. The option to sign interests will be available on the Tasks page and can be accessed at any time.