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Cap Table Round B
Series B Pre Money Valuation
Size of Series B Round
Post Money Valuation
Series B Pre-Money Price Per Share
Series B Post-Money Price Per Share
Licensor Target Ownership %
Post Option Pool

$ 15,000,000
$ Amount
% of Round
$ 7,500,000 Inv A
$ 5,000,000
66.7%
33.3%
$ 22,500,000 Corporate A $ 2,500,000
$0.76
$0.71
8.0%
10.00%

Common
Founders Shares
Founder
Founder Trust
Licensor
Family & Friends
Z
Y
X
W
V
U
T
S
R
Q
P
O
N
M

2,000,000
350,000
649,750
2,999,750

Series A

Series A-1

Series A-2

250,000

Total

%

A-1 Warrants

Total

Pre-Series B
Fully Dil %

2,250,000
350,000
649,750
3,249,750

14.2%
2.2%
4.1%
20.5%

2,250,000
350,000
649,750
3,249,750

11.3%
1.8%
3.3%
16.4%

300,000
200,000
70,000
200,500
550,000
3,000
400
15,000
2,000
1,256
2,000
2,250
29,900
1,500
1,377,806

1.9%
1.3%
0.4%
1.3%
3.5%
0.0%
0.0%
0.1%
0.0%
0.0%
0.0%
0.0%
0.2%
0.0%
8.7%

300,000
200,000
70,000
200,500
550,000
3,000
400
15,000
2,000
1,256
2,000
2,250
29,900
1,500
1,377,806

7,322,036
6,774,512
297,525
250,000
3,012,233
400,000
497,739
20,000
140,000
47,448
47,448
220,173
22,671
11,232,008

46.2%
42.7%
1.9%
1.6%
19.0%
2.5%
3.1%
0.1%
0.9%
0.3%
0.3%
1.4%
0.1%
70.8%

7,943,193
7,370,427
322,767
250,000
3,124,658
435,000
542,739
20,000
170,000
54,448
55,448
220,173
22,671
12,045,591

40.0%
37.2%
1.6%
1.3%
15.8%
2.2%
2.7%
0.1%
0.9%
0.3%
0.3%
1.1%
0.1%
60.7%

1,318,298
153,536
1,691,799
3,163,633

6.6%
0.8%
8.5%
15.9%

3,163,633

19,836,779

100.0%

Series B

1.5%
1.0%
0.4%
1.0%
2.8%
0.0%
0.0%
0.1%
0.0%
0.0%
0.0%
0.0%
0.2%
0.0%
6.9%

1,318,298
153,536
1,691,799
3,163,633

250,000

300,000
200,000
70,000
200,500
550,000
3,000
400
15,000
2,000
1,256
2,000
2,250
29,900
1,500
1,377,806

Investors
Inv A
Inv B
Sub Fund 1
Sub Fund 2
Sub Fund 3
Corporate A
Inv C
Others
A
B
C
D
E
F

2,330,159
2,280,851
49,309

2,360,453
400,000
440,000
20,000
140,000
40,000
40,000
200,000
783,000

4,208,877
3,993,661
215,216

651,780

7,409,330

57,739

7,448
7,448
20,173
22,671
3,039,678

621,157
595,915
25,242
112,426
35,000
45,000
30,000
7,000
8,000

813,582

4,377,556

1,033,000

7,409,330

3,039,678

15,859,564

100%

813,582

Pre-Options
Total

%

Options

Total

Fully Dil %

9,918,390

2,250,000
350,000
2,530,906
5,130,906

7.1%
1.1%
8.0%
16.2%

1.0%
0.7%
0.2%
0.7%
1.8%
0.0%
0.0%
0.1%
0.0%
0.0%
0.0%
0.0%
0.1%
0.0%
4.6%

300,000
200,000
70,000
200,500
550,000
3,000
400
15,000
2,000
1,256
2,000
2,250
29,900
1,500
1,377,806

0.9%
0.6%
0.2%
0.6%
1.7%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.0%
4.4%

6,612,260
7,943,193
7,370,427
322,767
250,000
6,430,788
435,000
542,739
20,000
170,000
54,448
55,448
220,173
22,671
21,963,981

22.1%
26.5%
24.6%
1.1%
0.8%
21.5%
1.5%
1.8%
0.1%
0.6%
0.2%
0.2%
0.7%
0.1%
73.3%

6,612,260
7,943,193
7,370,427
322,767
250,000
6,430,788
435,000
542,739
20,000
170,000
54,448
55,448
220,173
22,671
21,963,981

20.9%
25.1%
23.3%
1.0%
0.8%
20.3%
1.4%
1.7%
0.1%
0.5%
0.2%
0.2%
0.7%
0.1%
69.4%

4.4%
0.5%

1,471,834

9,918,390

7.5%
1.2%
8.5%
17.1%

1,318,298
153,536

3,306,130

2,250,000
350,000
2,530,906
5,130,906
300,000
200,000
70,000
200,500
550,000
3,000
400
15,000
2,000
1,256
2,000
2,250
29,900
1,500
1,377,806

1,881,156

6,612,260
783,000
500,000
33,000
250,000

Outstanding Options
Ungrated Options
Option Pool Gross Up
Total

Options

4.9%

1,318,298
153,536
1,691,799
3,163,633

4.2%
0.5%
5.3%
10.0%

29,944,527

100.0%

31,636,325

100.0%

1,691,799
-
Returns Analysis Round B
Series A Price Per Share
Series A-1 Price Per Share
Series A-2 Price Per Share
Series B Price Per Share
Series A-1 Warrant Conversion Ratio

$1.000 Sale Price
$1.764 Amt Available for Common
$1.764
$0.756
1.000 <----need to verify

$
$

Liquidation Preference
Series A-2
Series A-1

Series B
Founders Shares
Founder
Founder Trust
Licensor

150,000,000
121,595,285

Series A

Series B

Series Returns
Series A-1

Series A-2

Series A

$

250,000

$

960,883

$

250,000

$

960,883

$

5,000,000

$

2,500,000

7,500,000

4,111,333
4,024,333
87,000

$
$
$

$

1,150,000

$

$

$ 7,687,068
$ 1,345,237
$ 9,727,623
$ 18,759,927

$
$
$
$

8,897,951
1,345,237
9,727,623
19,970,811

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

101,875

$ 4,363,147
$
767,514
$
855,734
$
35,288
$
299,948
$
82,927
$
84,691
$
352,880
$
$ 14,508,507

$
$
$
$
$

13,141
13,141
35,592
40,000
5,363,208

8,522,112
8,097,847
424,264

$
$
$
$

783,000
500,000
33,000
250,000

$
$
$
$ 12,707,222

$

783,000

$ 38,121,666

8,956,047
8,766,528
189,519

$
$
$

18,564,398
17,640,190
924,208

$ 2,505,137
$
$
221,923
$
$
$
28,627
$
28,627
$
77,534
$
87,135
$ 11,683,107

$
$
$
$
$
$
$
$

31,605,042

$ 30,414,444
$ 43,946,376
$ 40,950,665
$
1,784,828
$
1,210,883
$ 32,730,099
$
2,439,451
$
3,043,646
$
112,159
$
953,349
$
305,341
$
310,949
$
1,234,713
$
127,135
$ 112,574,017

9,504,593
1,671,937
1,864,114
76,871
653,401
180,646
184,490
768,707

$

$
$
$
$

$

3,009,487
1,921,767
126,837
960,883

3,009,487
$ 5,066,923
$
590,121
$ 6,502,485
$ 12,159,528

$

7,500,000

$

5,363,208

$ 14,508,507

$

1,033,000

$ 38,121,666

$ 11,683,107

$

31,605,042

$

3,970,370

$ Invested

$
$
$
$

$ 36,215,100

$ 150,000,000

$

250,000

$

250,000

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

5,000,000
12,320,476
11,570,748
499,728
250,000
7,814,783
705,760
878,211
35,288
247,016
83,717
83,717
388,472
40,000
26,719,230

$

26,969,230

Multiple

1,153,060
768,707
269,047
770,629
2,113,944
11,531
1,537
57,653
7,687
4,827
7,687
8,648
114,922
5,765
5,295,644

1,153,060
768,707
269,047
770,629
2,113,944
11,531
1,537
57,653
7,687
4,827
7,687
8,648
114,922
5,765
5,295,644

$ 25,414,444
$
$
$

Outstanding Options
Ungrated Options
Option Pool Gross Up
Total

Total

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Family & Friends
Z
Y
X
W
V
U
T
S
R
Q
P
O
N
M
Investors
Inv A
Inv B
Sub Fund 1
Sub Fund 2
Sub Fund 3
Corporate A
Inv C
Others
A
B
C
D
E
F

Common

5,066,923
590,121
6,502,485
12,159,528

35.6x

6.1x
3.6x
3.5x
3.6x
4.8x
4.2x
3.5x
3.2x
3.9x
3.6x
3.7x
3.2x
3.2x

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Dummy Cap Table & Returns Analysis - Round B

  • 1. Cap Table Round B Series B Pre Money Valuation Size of Series B Round Post Money Valuation Series B Pre-Money Price Per Share Series B Post-Money Price Per Share Licensor Target Ownership % Post Option Pool $ 15,000,000 $ Amount % of Round $ 7,500,000 Inv A $ 5,000,000 66.7% 33.3% $ 22,500,000 Corporate A $ 2,500,000 $0.76 $0.71 8.0% 10.00% Common Founders Shares Founder Founder Trust Licensor Family & Friends Z Y X W V U T S R Q P O N M 2,000,000 350,000 649,750 2,999,750 Series A Series A-1 Series A-2 250,000 Total % A-1 Warrants Total Pre-Series B Fully Dil % 2,250,000 350,000 649,750 3,249,750 14.2% 2.2% 4.1% 20.5% 2,250,000 350,000 649,750 3,249,750 11.3% 1.8% 3.3% 16.4% 300,000 200,000 70,000 200,500 550,000 3,000 400 15,000 2,000 1,256 2,000 2,250 29,900 1,500 1,377,806 1.9% 1.3% 0.4% 1.3% 3.5% 0.0% 0.0% 0.1% 0.0% 0.0% 0.0% 0.0% 0.2% 0.0% 8.7% 300,000 200,000 70,000 200,500 550,000 3,000 400 15,000 2,000 1,256 2,000 2,250 29,900 1,500 1,377,806 7,322,036 6,774,512 297,525 250,000 3,012,233 400,000 497,739 20,000 140,000 47,448 47,448 220,173 22,671 11,232,008 46.2% 42.7% 1.9% 1.6% 19.0% 2.5% 3.1% 0.1% 0.9% 0.3% 0.3% 1.4% 0.1% 70.8% 7,943,193 7,370,427 322,767 250,000 3,124,658 435,000 542,739 20,000 170,000 54,448 55,448 220,173 22,671 12,045,591 40.0% 37.2% 1.6% 1.3% 15.8% 2.2% 2.7% 0.1% 0.9% 0.3% 0.3% 1.1% 0.1% 60.7% 1,318,298 153,536 1,691,799 3,163,633 6.6% 0.8% 8.5% 15.9% 3,163,633 19,836,779 100.0% Series B 1.5% 1.0% 0.4% 1.0% 2.8% 0.0% 0.0% 0.1% 0.0% 0.0% 0.0% 0.0% 0.2% 0.0% 6.9% 1,318,298 153,536 1,691,799 3,163,633 250,000 300,000 200,000 70,000 200,500 550,000 3,000 400 15,000 2,000 1,256 2,000 2,250 29,900 1,500 1,377,806 Investors Inv A Inv B Sub Fund 1 Sub Fund 2 Sub Fund 3 Corporate A Inv C Others A B C D E F 2,330,159 2,280,851 49,309 2,360,453 400,000 440,000 20,000 140,000 40,000 40,000 200,000 783,000 4,208,877 3,993,661 215,216 651,780 7,409,330 57,739 7,448 7,448 20,173 22,671 3,039,678 621,157 595,915 25,242 112,426 35,000 45,000 30,000 7,000 8,000 813,582 4,377,556 1,033,000 7,409,330 3,039,678 15,859,564 100% 813,582 Pre-Options Total % Options Total Fully Dil % 9,918,390 2,250,000 350,000 2,530,906 5,130,906 7.1% 1.1% 8.0% 16.2% 1.0% 0.7% 0.2% 0.7% 1.8% 0.0% 0.0% 0.1% 0.0% 0.0% 0.0% 0.0% 0.1% 0.0% 4.6% 300,000 200,000 70,000 200,500 550,000 3,000 400 15,000 2,000 1,256 2,000 2,250 29,900 1,500 1,377,806 0.9% 0.6% 0.2% 0.6% 1.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.0% 4.4% 6,612,260 7,943,193 7,370,427 322,767 250,000 6,430,788 435,000 542,739 20,000 170,000 54,448 55,448 220,173 22,671 21,963,981 22.1% 26.5% 24.6% 1.1% 0.8% 21.5% 1.5% 1.8% 0.1% 0.6% 0.2% 0.2% 0.7% 0.1% 73.3% 6,612,260 7,943,193 7,370,427 322,767 250,000 6,430,788 435,000 542,739 20,000 170,000 54,448 55,448 220,173 22,671 21,963,981 20.9% 25.1% 23.3% 1.0% 0.8% 20.3% 1.4% 1.7% 0.1% 0.5% 0.2% 0.2% 0.7% 0.1% 69.4% 4.4% 0.5% 1,471,834 9,918,390 7.5% 1.2% 8.5% 17.1% 1,318,298 153,536 3,306,130 2,250,000 350,000 2,530,906 5,130,906 300,000 200,000 70,000 200,500 550,000 3,000 400 15,000 2,000 1,256 2,000 2,250 29,900 1,500 1,377,806 1,881,156 6,612,260 783,000 500,000 33,000 250,000 Outstanding Options Ungrated Options Option Pool Gross Up Total Options 4.9% 1,318,298 153,536 1,691,799 3,163,633 4.2% 0.5% 5.3% 10.0% 29,944,527 100.0% 31,636,325 100.0% 1,691,799 -
  • 2. Returns Analysis Round B Series A Price Per Share Series A-1 Price Per Share Series A-2 Price Per Share Series B Price Per Share Series A-1 Warrant Conversion Ratio $1.000 Sale Price $1.764 Amt Available for Common $1.764 $0.756 1.000 <----need to verify $ $ Liquidation Preference Series A-2 Series A-1 Series B Founders Shares Founder Founder Trust Licensor 150,000,000 121,595,285 Series A Series B Series Returns Series A-1 Series A-2 Series A $ 250,000 $ 960,883 $ 250,000 $ 960,883 $ 5,000,000 $ 2,500,000 7,500,000 4,111,333 4,024,333 87,000 $ $ $ $ 1,150,000 $ $ $ 7,687,068 $ 1,345,237 $ 9,727,623 $ 18,759,927 $ $ $ $ 8,897,951 1,345,237 9,727,623 19,970,811 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 101,875 $ 4,363,147 $ 767,514 $ 855,734 $ 35,288 $ 299,948 $ 82,927 $ 84,691 $ 352,880 $ $ 14,508,507 $ $ $ $ $ 13,141 13,141 35,592 40,000 5,363,208 8,522,112 8,097,847 424,264 $ $ $ $ 783,000 500,000 33,000 250,000 $ $ $ $ 12,707,222 $ 783,000 $ 38,121,666 8,956,047 8,766,528 189,519 $ $ $ 18,564,398 17,640,190 924,208 $ 2,505,137 $ $ 221,923 $ $ $ 28,627 $ 28,627 $ 77,534 $ 87,135 $ 11,683,107 $ $ $ $ $ $ $ $ 31,605,042 $ 30,414,444 $ 43,946,376 $ 40,950,665 $ 1,784,828 $ 1,210,883 $ 32,730,099 $ 2,439,451 $ 3,043,646 $ 112,159 $ 953,349 $ 305,341 $ 310,949 $ 1,234,713 $ 127,135 $ 112,574,017 9,504,593 1,671,937 1,864,114 76,871 653,401 180,646 184,490 768,707 $ $ $ $ $ $ 3,009,487 1,921,767 126,837 960,883 3,009,487 $ 5,066,923 $ 590,121 $ 6,502,485 $ 12,159,528 $ 7,500,000 $ 5,363,208 $ 14,508,507 $ 1,033,000 $ 38,121,666 $ 11,683,107 $ 31,605,042 $ 3,970,370 $ Invested $ $ $ $ $ 36,215,100 $ 150,000,000 $ 250,000 $ 250,000 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 5,000,000 12,320,476 11,570,748 499,728 250,000 7,814,783 705,760 878,211 35,288 247,016 83,717 83,717 388,472 40,000 26,719,230 $ 26,969,230 Multiple 1,153,060 768,707 269,047 770,629 2,113,944 11,531 1,537 57,653 7,687 4,827 7,687 8,648 114,922 5,765 5,295,644 1,153,060 768,707 269,047 770,629 2,113,944 11,531 1,537 57,653 7,687 4,827 7,687 8,648 114,922 5,765 5,295,644 $ 25,414,444 $ $ $ Outstanding Options Ungrated Options Option Pool Gross Up Total Total $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Family & Friends Z Y X W V U T S R Q P O N M Investors Inv A Inv B Sub Fund 1 Sub Fund 2 Sub Fund 3 Corporate A Inv C Others A B C D E F Common 5,066,923 590,121 6,502,485 12,159,528 35.6x 6.1x 3.6x 3.5x 3.6x 4.8x 4.2x 3.5x 3.2x 3.9x 3.6x 3.7x 3.2x 3.2x