Venture Hacks Cap Table 2jp61

Effective Pre-Money Pre-Money Post-Money

Misc Inputs and Outputs $4,423,077 Share Price $6,000,000 Post-Money Pool $10,000,000 Debt Discount

$0.961538 15% 35%

Series A Cap Table

Series A Investor 1 Series A Investor 2 Total Series A Lender 1 Lender 2 Total Seed Debt

Investment $2,000,000 $2,000,000 $4,000,000 $25,000 $25,000 $50,000

Common Stock and Pre-Money Options Post-Money Options Total

Shares 2,080,000 2,080,000 4,160,000

Ownership 20.00% 20.00% 40.00%

40,000 40,000 80,000

0.38% 0.38% 0.77%

4,600,000

$4,050,000

1,560,000 10,400,000

44.23% (from the 2nd worksheet) 15.00% 100.00%

Summary

Founders Preferred All Options Total

Pre-Money

Post-Money

Share Value

Exit Value

86.96% 0.00% 13.04%

38.46% 40.77% 20.77%

$3,846,154 $4,076,923 $2,076,923

$19,230,769 $20,384,615 $10,384,615

100.00%

100.00%

$10,000,000

$50,000,000

Instructions!!! Everything is calculated from the blue numbers in both worksheets. Fill them in.

Notes We assume that all of the Debt and Post-Money Options come out of the Pre-Money. We assume that all of the Pre-Money Options have been allocated. Effective Pre-Money is the value of the Common Stock and Pre-Money Options, i.e. it does not include th Debt calculations do not include interest payments. Exit Value assumes there is no liquidation preference and no additional dilution before an exit. Share Value assumes that the Common Stock's fair market value is equal to the Share Price; in reality, the Common Stock's fair market value is much lower than the Share Price.

Calculations For your information, after you fill in the blue numbers, the main variables are calculated with the followin These are useful if you want to customize the spreadsheet. Post-Money = Pre-Money + Total Series A Share Price = (Pre-Money - Post Money x Post-Money Pool - Total Seed Debt / (1 - Debt Discount)) / Com Effective Pre-Money = Share Price x Common Stock and Pre-Money Options Post-Money Options = Post Money x Post-Money Pool / Share Price Investor Shares = Investment / Share Price Lender Shares = Investment / (Share Price x (1 - Debt Discount))

the 2nd worksheet)

, i.e. it does not include the Debt and Post-Money Options.

before an exit. e Share Price;

alculated with the following equations.

(1 - Debt Discount)) / Common Stock and Pre-Money Options

Common Stock and Pre-Money Options Shares Common Stock Founder 1 2,000,000 Founder 2 2,000,000 Total Common 4,000,000

Post-Money Share Value

Exit Value

19.23% 19.23%

$1,923,077 $1,923,077

$9,615,385 $9,615,385

38.46%

$3,846,154

$19,230,769

Pre-Money Options Employee 200,000 Employee 100,000 Employee 100,000 Employee 100,000 Employee 100,000 Total Options 600,000

1.92% 0.96% 0.96% 0.96% 0.96% 5.77%

$192,308 $96,154 $96,154 $96,154 $96,154 $576,923

$961,538 $480,769 $480,769 $480,769 $480,769 $2,884,615

4,600,000

44.23%

$4,423,077

$22,115,385

Common Stock and Pre-Money Options

Yo! Thanks for buying this cap table. Please don’t make copies of this spreadsheet. You can buy it at http://venturehacks.com/articles/cap-table Disclaimer - Read This! Use this spreadsheet to learn more about cap tables and illustrate what your cap table might look like. Then hire a lawyer to Copyright Venture Hacks Version 0.9 (Oct 24 2009)

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