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Shares are countable, SAFEs are not #236

mengwong opened this Issue Oct 29, 2016 · 0 comments


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commented Oct 29, 2016

suppose a round is raising Series AA shares, or Series Seed shares.

the cap table would define a price per share, and there would be a certain number of shares shown in the amount_raised row.

the preemptive waiver template would describe the eligibility to participate, in terms of number of shares.

suppose the user wants to switch the instrument to convertible notes.

the user (in v1) would have to manually delete the number-of-shares, and the price-per-share, etc, from the cap table.

then the preemptive waiver template would describe eligibility in terms of amount of money instead of amount of shares.

but if the end-user forgets to make the necessary changes to the cap table, the preemptive waiver document comes out looking really weird.

it would be nice if, in v2, the change-of-security-type operation correctly updated all these fiddly bits so the preemptive_waiver template automatically produces the right output.

mengwong added a commit that referenced this issue Oct 29, 2016

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