Capitalization Table Template

How to use this worksheet...

1. It is read-only by design. You'll need to create a copy of the spreadsheet for your own numbers. Go to 'File' and select 'Make a copy'.

2. Only edit the BLUE fields unless you're prepared to dive into some heavy customization.

3. The general idea is to show how the evolution of dilution through rounds.

Tab 1 - Pre Investment Cap Table

Tab 2 - Convertible Notes
Tab 3 - First Priced Round
Tab 4 - Series A Cap Table
Tab 5 - Warrant Conv Print Version
Tab 6 - Series A Print Version

Feedback
This spreadsheet is a work in progress, and any feedback is welcome.
grads@fi.co
 Capitalization Table Prior to Investment
Common Common
Shareholder Stock Options Fully Diluted % FD
Employee #1 (Co-founder) 10,000,000 - 10,000,000 90.00%
Employee #2 (Co-founder) 833,000 833,000 7.50%
Employee #3 (Co-founder) - - - 0.00%
Other Employees - - - 0.00%
Advisor #1 - - - 0.00%
Advisor #2 - - - 0.00%
Consultant #1 278,000 - 278,000 2.50%
Pre-Investment Option - - - 0.00%
Pool
Total 11,111,000 - 11,111,000 100.00%

Cap Table Summary

Fully
Shareholder Diluted % FD
Employees 10,833,000 97.5%
Advisors 278,000 2.5%
Option Pool - 0.0%
TOTAL 11,111,000 100.0%

Security Definitions
Common Options: Frequently issued to employees, board members, and advisors. Common options provide the holder with the
Common Stock: Frequently held by employees who have exercised their vested options or by founders.
Preferred Stock: Preferred stock is commonly issued to investors, for example in Series A and B rounds.

Only adjust values that appear in Blue.

Values that appear in Black are formulas.
 Agreements in place ; verbal gets messy during DD
SAFE discount no cap
SAFE cap no discount
SAFE cap + discount

Security Definitions
options provide the holder with the right to purchase a share of the company's common stock for a fixed price in the future (strike price).

nd B rounds.
e in the future (strike price).
 Note Inputs Note Calcu
Date of Interest Date of
Investor Principal Discount Cap
Issuance Rate Pre Seed
Convertible Note #1 $ 100,000 3/1/2022 0.0% 15.0% $ 8,000,000 12/31/2022
Convertible Note #2 $ - 3/15/2022 0.0% 20.0% $ 5,000,000 12/31/2022
Convertible Note #3 $ - 3/15/2022 0.0% 20.0% $ 8,000,000 12/31/2022
Founder Institute, Incorporated 3% 1/1/2022
Total $ 100,000
Convertible Note #1 $ 100,000 3/1/2022 0.0% 15.0% $ 8,000,000 12/31/2022
Convertible Note #2 $ - 3/15/2022 0.0% 20.0% $ 5,000,000 12/31/2022
Convertible Note #3 $ - 3/15/2022 0.0% 20.0% $ 8,000,000 12/31/2022
Founder Institute, Incorporated $ 0 1/1/2022 12/30/1899
Total $ 100,000
If your company is not receiving convertible note investment, enter zero for each convertible note in cells B3 through B5
If your notes do not have discount or cap, enter zero for each in cells E3 through F6 (some notes do not have a discount or a ca
If you are using a SAFE, enter zero for interest rate in cell D3 through D6
This example assumes all notes will convert at the pre-seed funding round
The date of issuance for the Founder Institute warrant is the date on the warrant (e.g. the date the Board authorized it's issuanc
 Note
DaysCalculations Principal
Interest
Note Plus
Accured
Held
305 $ - $ Interest
100,000
291 $ - $ -
291 $ - $ -

$ - $ 100,000
305 $ - $ 100,000
291 $ - $ -
291 $ - $ -
0
$ - $ 100,000
lls B3 through B5
t have a discount or a cap)

rd authorized it's issuance). This is different then the TBD date at which it converts
 Priced Round INPUTS
Date of Funding 12/31/2022
Pre-Money Valuation $10,000,000
Option Pool Expansion (added prior to Pre Seed share price calculation) 1,500,000
Option Pool % of Fully Diluted after Financing 10.4%
Shares Prior to Pre Seed Round 12,611,000
Share Price $ 0.7930

Investor Conv. Note New $ Total

Convertible Note #1 $ 100,000 $ - $ 100,000
Convertible Note #2 $ - $ - $ -
Convertible Note #3 $ - $ - $ -
Lead Investor $ 1,000,000 $ 1,000,000
Other Investor $ - $ -
Total Pre Seed Value $ 100,000 $ 1,000,000 $ 1,100,000
Post Money Valuation $11,125,000

Common P
Common Common Total Common% Common Actual $
Shareholder Stock Options Securities Securities Invested
Employee #1 (Co-founder) 10,000,000 - 10,000,000 79.3% $ -
Employee #2 (Co-founder) 833,000 - 833,000 6.6% $ -
Employee #3 (Co-founder) - - - 0.0% $ -
Other Employees - - - 0.0% $ -
Advisor #1 - - - 0.0% $ -
Advisor #2 - - - 0.0% $ -
Consultant #1 278,000 - 278,000 2.2% $ -
Pre-Investment Option Pool - - - 0.0% $ -
Pre Seed Option Pool Expansion - 1,500,000 1,500,000 11.9% $ -
Convertible Note #1 - - - 0.0% $ 100,000
Convertible Note #2 - - - 0.0% $ -
Convertible Note #3 - - - 0.0% $ -
Lead Investor - - - 0.0% $ 1,000,000
Other Investor - - - 0.0% $ -
Founder Institute, Incorporated - - - 0.0% $ -
Total 11,111,000 1,500,000 12,611,000 100% $ 1,100,000

This scenario assumes that all 3 convertible notes convert at the First Priced Round

Note Conversion
Principal & Conversion Conversion Priced Rd Conv. Price
Investor Interest Discount Cap Price at Discount
Convertible Note #1 $100,000 15.0% $ 8,000,000 $ 0.7930 $ 0.6740
Convertible Note #2 $0 20.0% $ 5,000,000 $ 0.7930 $ 0.6344
Convertible Note #3 $0 20.0% $ 8,000,000 $ 0.7930 $ 0.6344
 Cap Table Pre-Investment & Priced Round Warrant Conversion
Summary Option Pool Expansion
Fully Diluted FD % Fully Diluted FD % Fully Diluted
Employees 10,833,000 85.90% 10,833,000 77.21% 10,833,000
Advisors + Consultants 278,000 2.20% 278,000 1.98% 278,000
Option Pool 1,500,000 11.89% 1,500,000 10.69% 1,500,000
Convertible Notes + Pre Seed Investors 1,418,738 10.11% 1,418,738
Founder Institute, Incorporated 359,737
TOTAL 12,611,000 100.0% 14,029,738 100.00% 14,389,474

Warrant Conversion
Converstion Priced Rd Priced Rd Priced Rd
Investor Percentage Price Shares Value
Founder Institute, Incorporated 2.50% $ 0.7930 359,737 $ 285,256

Priced Round Warrant Conversion

Issue Priced Rd % of Actual $ Issue Priced Rd.
Value Shares Pre Seed Invested Value Shares
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ 100,000 157,638 11.11% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - -
$ 1,000,000 1,261,100 88.89% $ - $ - -
$ - - 0.00% $ - $ - -
$ - - 0.00% $ - $ - 359,737
$ 1,100,000 1,418,738 100.00% $ - $ - 359,737

ote Conversion
Priced Rd Priced Rd
Conv. Price Priced Rd Effective
Issue toValue
Cash
at Cap Shares Value Discount
Invested
$ 0.6344 157,638 $ 125,000 20.0% 1.25x
$ 0.3965 - $ - 50.0% n/a
$ 0.6344 - $ - 20.0% n/a
 Warrant Conversion

FD %
75.28%
1.93%
10.42%
9.86%
2.50%
100.00%

version Total Securities

% of Total % Fully
Warrant Rd. Securities Diluted
0.00% 10,000,000 69.50%
0.00% 833,000 5.79%
0.00% - 0.00%
0.00% - 0.00%
0.00% - 0.00%
0.00% - 0.00%
0.00% 278,000 1.93%
0.00% - 0.00%
0.00% 1,500,000 10.42%
0.00% 157,638 1.10%
0.00% - 0.00%
0.00% - 0.00%
0.00% 1,261,100 8.76%
0.00% - 0.00%
100.00% 359,737 2.50%
100.00% 14,389,474 100.00%
 Series A INPUTS
Pre Seed Post-Money Valuation $11,125,000
Valuation Step-Up -25.8%
Series A Pre-Money Valuation $ 8,250,000
Option Pool Expansion (prior to Series A share price calc -
Option Pool % of Fully Diluted after Financing 7.8%
Shares Prior to A Round 14,389,474
Share Price $ 0.57

Investor New $
Convertible Note #1 $ -
Convertible Note #2 $ -
Convertible Note #3 $ -
Lead Investor $ -
Other Investor $ -
Founder Institute, Incorporated $ -
Series A Lead Investor $ 2,000,000
Series A Other Investors $ 750,000
Total Series A Value & Cash $ 2,750,000
Post Money Valuation $11,000,000

Common
Common Common Total Common% Common
Shareholder Stock Options Securities Securities
Employee #1 (Co-founder) ### - 10,000,000 79.3%
Employee #2 (Co-founder) 833,000 - 833,000 6.6%
Employee #3 (Co-founder) - - - 0.0%
Other Employees - - - 0.0%
Advisor #1 - - - 0.0%
Advisor #2 - - - 0.0%
Consultant #1 278,000 - 278,000 2.2%
Pre-Investment Option Pool - - - 0.0%
Pre Seed Option Pool
Expansion - 1,500,000 1,500,000 11.9%
Series A Option Pool Expansio - - - 0.0%
Convertible Note #1 - - - 0.0%
Convertible Note #2 - - - 0.0%
Convertible Note #3 - - - 0.0%
Lead Investor - - - 0.0%
Other Investor - - - 0.0%
Founder Institute, - - - 0.0%
Incorporated
Series A Lead Investor - - - 0.0%
Series A Other Investors - - - 0.0%
Total ### 1,500,000 12,611,000 100%
 Cap Table Pre-Investment & Warrant Conversion, Pre-Series Post-Series A
Summary Option Pool Expansion A Option Pool Expansion
Fully Diluted FD % Fully Diluted FD % Fully Diluted
Employees 10,833,000 97.5% 10,833,000 75.3% 10,833,000
Advisors + Consultants 278,000 2.5% 278,000 1.9% 278,000
Option Pool - 0.0% 1,500,000 10.4% 1,500,000
Convertible Notes + Pre Seed Investors 1,418,738 9.9% 1,418,738
Founder Institute, Incorporated 359,737 2.5% 359,737
Series A Investors - 0.0% 4,796,491
TOTAL 11,111,000 100.0% 14,389,474 100% 19,185,966

Pre Seed Series A Total Securities

Pre Seed % of Series A Series A % of Total
Shares Pre Seed Investment $ Shares Series A Securities
- 0.0% $ - - 0.0% 10,000,000
- 0.0% $ - - 0.0% 833,000
- 0.0% $ - - 0.0% -
- 0.0% $ - - 0.0% -
- 0.0% $ - - 0.0% -
- 0.0% $ - - 0.0% -
- 0.0% $ - - 0.0% 278,000
- 0.0% $ - - 0.0% -

- 0.0% $ - - 0.0% 1,500,000

0.0% $ - - 0.0% -
157,638 8.9% $ - - 0.0% 157,638
- 0.0% $ - - 0.0% -
- 0.0% $ - - 0.0% -
1,261,100 70.9% $ - - 0.0% 1,261,100
- 0.0% $ - - 0.0% -
359,737 20.2% $ - - 0.0% 359,737
- 0.0% $ 2,000,000 3,488,357 72.7% 3,488,357
- 0.0% $ 750,000 1,308,134 27.3% 1,308,134
1,778,474 100% $ 2,750,000 4,796,491 100% 19,185,966
 Post-Series A

FD %
56.5%
1.4%
7.8%
7.4%
1.9%
25.0%
100%

Total Securities
% Fully
Diluted
52.1%
4.3%
0.0%
0.0%
0.0%
0.0%
1.4%
0.0%

7.8%
0.0%
0.8%
0.0%
0.0%
6.6%
0.0%
1.9%
18.2%
6.8%
100%
 Warrant
Fully Conversion
Fully Cap
Common Pre Seed CapPre
Common Table
Seed Pre Seed Diluted % Fully Table
Diluted % Fully
Shareholder Shares Options Shares % Shares Diluted Shares Diluted
Employee #1 (Co-founder) 10,000,000 - - 0.0% 10,000,000 71.3% ### 69.5%
Employee #2 (Co-founder) 833,000 - - 0.0% 833,000 5.9% 833,000 5.8%
Employee #3 (Co-founder) - - - 0.0% - 0.0% - 0.0%
Other Employees - - - 0.0% - 0.0% - 0.0%
Advisor #1 - - - 0.0% - 0.0% - 0.0%
Advisor #2 - - - 0.0% - 0.0% - 0.0%
Consultant #1 278,000 - - 0.0% 278,000 2.0% 278,000 1.9%
Pre-Investment Option Pool - - - 0.0% - 0.0% - 0.0%
Pre Seed Option Pool Expansi - 1,500,000 - 0.0% 1,500,000 10.7% ### 10.4%
Convertible Note #1 - - 157,638 11.1% 157,638 1.1% 157,638 1.1%
Convertible Note #2 - - - 0.0% - 0.0% - 0.0%
Convertible Note #3 - - - 0.0% - 0.0% - 0.0%
Lead Investor - - 1,261,100 88.9% 1,261,100 9.0% ### 8.8%
Other Investor - - - 0.0% - 0.0% - 0.0%
Founder Institute, Incorporate - - - 0.0% - 0.0% 359,737 2.5%
Total 11,111,000 1,500,000 1,418,738 100.0% 14,029,738 100.0% ### 100.0%
 Fully
Common Common Series A Cap Pre
Pre Seed Table
Seed Series A Series A Diluted Fully
Shareholder Shares Options Shares % Shares % Shares Diluted %
Employee #1 (Co-founder) 10,000,000 - - 0.0% - 0.0% 10,000,000 52.1%
Employee #2 (Co-founder) 833,000 - - 0.0% - 0.0% 833,000 4.3%
Employee #3 (Co-founder) - - - 0.0% - 0.0% - 0.0%
Other Employees - - - 0.0% - 0.0% - 0.0%
Advisor #1 - - - 0.0% - 0.0% - 0.0%
Advisor #2 278,000 - - 0.0% - 0.0% 278,000 1.4%
Consultant #1 - - - 0.0% - 0.0% - 0.0%
Pre-Investment Option Pool - - - 0.0% - 0.0% - 0.0%
Pre Seed Option Pool Expansi - 1,500,000 - 0.0% - 0.0% 1,500,000 7.8%
Series A Option Pool Expansio - - - 0.0% - 0.0% - 0.0%
Convertible Note #1 - - 157,638 8.9% - 0.0% 157,638 0.8%
Convertible Note #2 - - - 0.0% - 0.0% - 0.0%
Convertible Note #3 - - - 0.0% - 0.0% - 0.0%
Lead Investor - - 1,261,100 70.9% - 0.0% 1,261,100 6.6%
Other Investor - - - 0.0% - 0.0% - 0.0%
Founder Institute, Incorporated - - 359,737 20.2% - 0.0% 359,737 1.9%
Series A Lead Investor - - - 0.0% 3,488,357 72.7% 3,488,357 18.2%
Series A Other Investors - - - 0.0% 1,308,134 27.3% 1,308,134 6.8%
Total 11,111,000 1,500,000 1,778,474 100.0% 4,796,491 100.0% 19,185,966 100.0%