Strictly Confidential

Startup.com - Cap Table Post Financing

New round October 2009
Pre-money valuation

Investor
ABC Co.
Individual Investors
Hill Investors
Bank of America
New Investors
Directors
Founder
CEO
Other current employees

Former employees
Unallocated options
Total
% Total
New Investment Round (in US$)
Pre-money equity valuation
ABC Co. Investment
New investment
Repayment Bridge
Post-money equity valuation

Shares and Options Pre

Shares from Conversion Bridge
Shares from Conversion Note
New Shares from ABC Co. Investment
New Shares from Investment Round
NOSH Post
Shares and Options Pre
Shares from Conversion Bridge
Shares from Conversion Note
New Shares from ABC Co. Investment
New Shares from Investment Round
Total NOSH Post
Assumptions:

$8m
$12m

Bridge converted into Series A

Note repayed

Share Capital
Series A
Series B
Options
Warrants
40,739,801
8,543,828
115,568
338,149
797,113
1,134
49,025
17,830
3,720
1,677
203
37,023,255
210,070
520,649
89,465
8,376
68,367
384,826
1,074,679
6,108
1,142,942
2,302
1,222,342
974
22,712
24,289
2,936
97,863
645,320
42,442,389
45,567,083
3,654,391
201,020
0.57%
37.26%
40.00%
3.21%
0.18%

Common

12,000,000
1,500,000
6,500,000
20,000,000

6,625,000
5,375,000
1,500,000
6,500,000
20,000,000
37,735,241
30,615,384
8,543,828
37,023,255
113,917,708

Calculation
Conversion Bridge (yes / no)
Conversion Note (yes / no)
Price per Share
Goal Seek
Parameters
NOSH Series A ABC Co. before
NOSH before new Unallocated
Options are issued
Value Bridge
Value Note
Disc. Conversion Bridge
Disc. Conversion Note
Bridge
Value
Disc. Price per Ord Share
Preferred Shares

New Options (Pre)

21,407,505
21,407,505
18.79%

NOSH
% Ownership
49,399,197
43.4%
1,185,421
1.0%
17,830
0.0%
5,600
0.0%
37,023,255
32.5%
828,560
0.7%
1,533,980
1.3%
1,142,942
1.0%
1,225,618
1.1%
49,937
0.0%
21,505,368
18.9%
113,917,708
100.0%
100.00%

yes
no
0.176
-

Go to "Tools" - "Goal Seek". "Set cell" G25 "to Value of" 0 :by
changing cell" G24. This allows the calculation of the share
price based on the new investment parameters.

10,124,417
16,327,736
4,300,000
1,500,000
20%
0%

4,300,000
0.14
30,615,384

Newly Issued Unallocated Options

Existing Options
Existing Unallocated
New Allocated
Total Options
% NOSH
Test
Note
Value
Disc. Price per Ord Share
Common Shares

3,556,528
97,863
21,407,505
25,061,896
22.00%
22.00%

0.18
-