Скачать или смотреть Founder Stock Repurchases, Conversions And Secondary Sales In Liquid Scenarios

Issuing founder shares that contemplate pre-Exit liquidity by way of a secondary sale and simultaneous conversion to a future preferred round, are increasing in popularity.
There are also cases where investors decide to enable a multi-step transaction where a fraction of the founder's common shares are essentially exchanged for preferred stock that's subsequently sold to the current round of investors. In Liquid Scenarios, right clicking on the founder's shares and then selecting "convert" easily implements either of these private company stock transactions between holders.
To illustrate how to quickly and accurately model the investing cash flow impact of these types of transactions in Liquid Scenarios, we will first navigate to a portfolio company considering a secondary sale of founder shares as part of an upcoming financing round.
In Liquid Scenarios Search2Model, we can enter the portfolio company name or simply use the up and down arrow to browse through interactive payout models for the company we have an interest in.
Once we find the company we want to model the hypothetical or actual founder stock, secondary sale transaction for, we simply click the Finish button and are presented with the interactive capitalization table (iCap Table).
After clicking on the iCap Table display, a properties panel will appear that will allow us to select just the founder considering the partial sale of some of their Series FF, Starter Stock, Common Stock or other security with special rights designated to enable a founder to take some cash out of the company prior to an exit event.
After right click on the appropriate Founder's security, we select "Convert", tell Liquid Scenarios how many shares the founder is willing and able to sell in the transaction and finally the security those shares will convert into prior to being purchased by a new or existing venture capital fund investor in the portfolio company.

Immediately after following those steps the cash on cash investment impact on every investor, security and stakeholder in the portfolio company is displayed in interactive cap tables and dynamic waterfalls in Liquid Scenarios.