New York Simple Agreement for Future Equity
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How to fill out Simple Agreement For Future Equity?
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FAQ
If a company fails to secure future equity financing or get acquired, then an investor's SAFE will never convert into equity. The SAFE holder will be entitled to repayment in a dissolution of the company, although it's likely there won't be meaningful assets left to pay the SAFE holder in that scenario.
A simple agreement for future equity (SAFE) is a financing contract that may be used by a start-up company to raise capital in its seed financing rounds. The instrument is viewed by some as a more founder-friendly alternative to convertible notes because a SAFE is quicker and easier to negotiate and has fewer terms.
It gives investors a direct discount on the price per share the SAFE will ?convert at relative to the price that the priced round investors will receive. The discount rate for a SAFE is generally between 75-90% (reflecting a 10-25% discount).
KISS has many of the same elements as SAFEs but could include maturity dates, interest, and other investor rights. SAFEs are not loans. There is no interest and no maturity date. Convertible notes accrue interest until conversion.
A simple agreement for future equity (SAFE) is a financing contract that may be used by a start-up company to raise capital in its seed financing rounds. The instrument is viewed by some as a more founder-friendly alternative to convertible notes because a SAFE is quicker and easier to negotiate and has fewer terms.
A SAFE is an investment contract between a startup and an investor that gives the investor the right to receive equity of the company on certain triggering events, such as a: Future equity financing (known as a Next Equity Financing or Qualified Financing), usually led by an institutional venture capital (VC) fund.
A SAFE is an investment contract between a startup and an investor that gives the investor the right to receive equity of the company on certain triggering events, such as a: Future equity financing (known as a Next Equity Financing or Qualified Financing), usually led by an institutional venture capital (VC) fund.
A simple agreement for future equity (SAFE) is a contract between an investor and a portfolio company that provides rights to the investor for future equity in the company. It does this without determining a specific price per share when the investment is made.
Conversion event: SAFE notes automatically convert into preferred stock during the company's next fundraising round. However, convertible notes may have a variety of possible conversion events. These include when the startup raises a given amount of money, or even when the two parties agree on the conversion.