Venture Hacks Cap Table Example

					Effective Pre-Money Pre-Money Post-Money

Misc Inputs and Outputs $2,000,000 Share Price $2,000,000 Post-Money Pool $3,000,000 Debt Discount Series A Cap Table Investment $1,000,000 $0 $1,000,000 $0 $0 $0 Shares 1,000,000 0 1,000,000 0 0 0

$1.000000 0% 0%

Series A Investor 1 Series A Investor 2 Total Series A Lender 1 Lender 2 Total Seed Debt Common Stock and PreMoney Options Post-Money Options Total

Ownership 33.33% 0.00% 33.33% 0.00% 0.00% 0.00%

2,000,000 0 3,000,000

66.67% 0.00% 100.00%

$1,000,000 Summary Pre-Money

Post-Money 66.67% 33.33% 0.00% 100.00%

Share Value $2,000,000 $1,000,000 $0 $3,000,000

Founders Preferred All Options Total

100.00% 0.00% 0.00% 100.00%

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 n Debt calculations do not include interest payments.

Exit Value assumes there is no liquidation preference and no additional dilution before an ex Share Value assumes that the Common Stock's fair market value is equal to the Share Price

License You may share and remix this work under the Creative Commons "Attribution-ShareAlike 3.0 Originally created by Venture Hacks Version 0.9 (You can always find the latest version at http://

Calculations For your information, after you fill in the blue numbers, the main variables are calculated wi 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 Dis 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))

Disclaimer Venture Hacks makes no representations that this cap table is accurate in any way or is fit f Venture Hacks does not take responsibility for anything that results from using this cap table If you did not receive this cap table from, it may have been modified by a

(from other worksheet)

Exit Value $33,333,333 $16,666,667 $0 $50,000,000

e Pre-Money.

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

dilution before an exit. ual to the Share Price. In reality, the Common Stock's fair market value is much lower than the Share

bution-ShareAlike 3.0 Unported" license if you include this line and the following two lines:

est version at )

bles are calculated with the following equations.

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

in any way or is fit for any purpose. This is not legal advice. m using this cap table, including, but not limited to, losing all your money and going to jail. e been modified by a third party. We take no responsibility for these modifications.

ch lower than the Share Price.

ing two lines:

d going to jail.

Common Stock and Pre-Money Options Shares Post-Money Share Value Common Stock Founder 1 2,000,000 Founder 2 0 Total Common 2,000,000 Pre-Money Options Employee Employee Employee Employee Employee Total Options 66.67% 0.00% 66.67% $2,000,000 $0 $2,000,000 Exit Value $33,333,333 $0 $33,333,333

0 0 0 0 0 0

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 66.67%

$0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0

Common 2,000,000 Stock and Pre-Money Options

$2,000,000 $33,333,333

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