Proforma Captable allows you to preview what your Captable may look like in events like the conversion of convertible instruments or exercise of ESOPs. The output presents a proforma view of a hypothetical captable with the details of ownership reflected based on your assumption inputs. 

 

A proforma Captable offers: 

  1.  Insights into the possible future state of ownership. 
  2. Displays into the potential dilution on your Captable following the conversion of convertible instruments 
  3. Quantify different possibilities with different viable outcomes. 

 

To generate a Proforma Captable:

  1. Navigate to the ownership tab from the left panel and click on captable.
  2. Click on the proforma tab 
  3. The Configuration for Proforma Captable will then be displayed. 
  4. Complete the configuration steps for Convertible Notes, Warrant Notes and Equity Awards, as required 
  5. Click Yes in the Publish to all users field. 
  6. Click Yes in the Display Proforma Captable as the default view field. 

 

 

Convertible Notes 

For each convertible note, you can specify the following: 

 

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  1. Select the appropriate Conversion Date. This is the date on which the convertible note is being converted. You may utilise today’s date for illustrative purposes. 
  2. Set the Conversion Price / Valuation (Fully Diluted Basis) by Price, Valuation-Pre Money, or Valuation-Post Money. 
    1. In the case of Price, you can specify the amount in the appropriate Currency.  

 

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  1.  In the case of Valuation-Pre Money, you can specify the pre-money valuation amount in the appropriate Currency. 

 

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  1.  In the case of Valuation-Post Money, you can specify the post-money valuation amount in the appropriate Currency. 

 

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  1. Click Yes in the Include Interest? (From Issue Date) field to define the percentage of interest applicable on the convertible note if required. Enter the percentage in the Annual Interest Rate (%) field.  

 

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  1. If necessary, select Daily, Weekly, Monthly, or Annually in the Accrual Basis field. If you select Daily, you will also need to set the day count for the accrual. This will allow for the relevant interest to be calculated. 

 

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  1. Select the interest accrual method in the Compound Method field. This can be Simple or Compound. 

 

Warrants 

You can also view the potential impact of Warrants on the Captable if they were exercised. For this, you need to specify the following: 

 

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  1. Select Yes in the Warrant: Assume to be exercised field. This displays all the warrants issued so far. 
  2. Select Yes in the relevant Warrant class(es): Assume to be exercised field. 
  3. Share Class: This was pre-defined when the Warrant class was set up. This is the Share Class to which the Warrants will convert.  
  4. In the Exercise Price field, you can specify the amount in the appropriate Currency. 


     

Equity Awards 

This section allows you to visualize the impact of all Equity awards if they were vested, exercised and shares were issued against them. You can specify the following: 

 

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  1. Select Yes in the Equity Awards: Assume to be exercised field if you want the Pro-forma Captable to include the impact of Option awards exercised and converted into shares 
  1. Select Yes in the Allocated: Assume to be issued field: This will allow the pro forma Captable to reflect the impact of shares being issued for all allocated awards. 
  2. Unallocated or Reserved: Assume to be issued field: Enabling this will allow the pro forma Captable to reflect the impact of shares being issued in relation to a currently unallocated portion of the pool. 
  1.  Specify Exercise Price in the appropriate currency: Since this assumption allows you to model the impact of currently unallocated awards, you will need to specify the exercise price at which they will be assumed to be granted and then exercised. 
  2. Share awards 
  1. Select Yes in the Allocated: Assume to be issued field: This will allow the pro forma Captable to reflect the impact of shares being issued for all allocated Share awards. 
  2. Select Yes in the Unallocated or Reserved: Assume to be issued field, This will allow the pro forma Captable to reflect the impact of shares being issued for all currently unallocated allocated Share awards.