What your SAFEs convert into.
Post-money SAFEs at a priced round: each Safe Price, which price applies, and everyone’s ownership. Exact arithmetic, the same engine and test vectors as Binderwork. It runs in your browser; nothing is sent anywhere.
Model, not a legal record
Company Capitalization 12,500,000
- Common stock9,000,00057.60%
- Options and unissued pool1,000,0006.40%
- SAFE 1At the Safe Price $0.801,250,0008.00%
- SAFE 2At the Safe Price $0.96625,0004.00%
- SAFE 3At the Safe Price $0.64625,0004.00%
- New investors3,125,00020.00%
Each holder's shares round down to a whole share. Company Capitalization and Safe Prices use the unrounded amounts.
Keep your SAFEs on a register and see the same conversion on your own cap table, with each investor’s signed copy beside it. Free and open source.
Start freeA cap SAFE converts at the lower of its Safe Price (the cap divided by the Company Capitalization, which includes every converting SAFE) and the round price; a discount SAFE at the round price times its Discount Rate; an MFN SAFE at the round price. A pool increase in the financing stays out of the Company Capitalization. Binderwork is not a law firm, is not affiliated with Y Combinator, and this is a model, not a legal record.