I know the total number of shares to be issued in this new round. Can I model it by the number of shares?
Unfortunately, we don’t support modelling rounds by the number of shares issued at the moment. You can use Add investment by percentage to work out the investment needed for the total number of shares. With that investment sum (or percentage) in mind, you can delete that transaction and then proceed to add the actual transactions by investment or percentage.
If this applies to you, please do share your feedback and requests with our Product team via this Portal.
How do I customise dilution to a new share class?
You can define the characteristics for each existing share class (including liquidation preferences) in Transactions > Share Classes. If a new share class is to be created for the round, you can also add it into Transactions > Share class before modelling the round to define the characteristics.
How do I reflect different share classes within one round?
A financing round typically uses one share class, however, if there is more than one type being issued, you can add a class conversion once the round has been converted into transactions.
Note: Pool creation via scenario modelling → always uses Common shares
If you are creating a Pool increase by selecting an existing Pool, the transaction will allocate shares of the existing share class
How do I model an exit event?
To create an exit waterfall, please visit this article.
Upon an exit, please note that the pool(s) will vest in full.
How are convertible loans converted?
You can see that Ledgy calculated the interest (using the specified date in the convertible as the start date and the scenario round's date as the end date).
You can also see that the issue price has a discount of 20.00%. This number tells you whether the calculation was done using the conversion parameter cap or discount.
How do we create a post-round Pool?
You can define pre-round or post-round in Scenario settings
New pool shares only dilute existing stakeholders:
What does this error mean?
Could not find a solution to your input:
This error may appear if the valuation is too low to calculate a valid share price for the convertible loan conversions.
The resulting share price is lower than the nominal value:
This error appears if the valuation you set is too low, based on the existing amount of shares. Either change the valuation or go to Settings (in the sidebar) and adjust the nominal value, if you haven't yet.
Missing values within the transaction
What is agio?
The total actual investment from the investors. This number may be slightly different from the investment you input per investor, in order to get to a whole share as an integer
What does actual investment refer to?
You can also see that Ledgy calculates the actual investment amount. You might see this:
When entering investment by currency amount, you can see the actual investment needed to get a share as an integer (numbers of shares * share price). Actual investment is the result of shares being integers.
This does not apply when you enter the investment as a percentage.