CAPITALIZATION TABLE GENERATOR/MG

INTRODUCTION
Use this workbook to calculate your company's ownership after issuing stock, or options, to:
Founders
New hires
Boards of Directors and Advisors
Seed investors
Two subsequent rounds of investors (venture capital?)
The public, in your IPO
Just fill in the highlighted assumptions on the 'Assumptions' worksheet .
The workbook includes 4 worksheets
Introduction
Assumptions
Summary Results
Capitalization Table

File = 165281482.xls.ms_office
Worksheet = Introduction

11:24 AM 8/18/2013
Copyright 2001, Michael Gonnerman, Inc.

CAPITALIZATION TABLE GENERATOR/MG

ASSUMPTIONS
Assumption fields
User to complete Calculated
initial equity decisions
number of shares issued founder
total price paid by founder
price per share paid by founder
how big is the option pool for the first hires?
price per share paid by initial hires
how big is the option pool for directors and advisors?
price per share paid by directors and advisors
re the initial financing (seed round)
what is the value of the company before the investment?
how much is raised in this round?
re the first round of venture financing
how big is the option pool set up for hires after the first venture financing?
what is the value of the company before the investment?
how much is raised in this round?
re the second round of venture financing
how big is the option pool set up for hires after the second venture financing?
what is the value of the company before the investment?
how much is raised in this round?
re the initial public offering (ipo)
what is the target offering price
what is the value of the company before the ipo
how much is raised in the ipo

File = 165281482.xls.ms_office
Worksheet = Assumptions

1,000,000
10,000
$

$
$

0.010

15.0%
0.50
8.0%
1.00

$
$

4,000,000
1,000,000

20.0%

$
$

5.0%
6,000,000
5,000,000

45.5%

$
$

4.0%
15,000,000
10,000,000

40.0%

$
$

12
300,000,000
75,000,000

20.0%

11:24 AM 8/18/2013
Copyright 2001, Michael Gonnerman, Inc.

CAPITALIZATION TABLE GENERATOR/MG

SUMMARY RESULTS
Total
value
post IPO
founder
initial hires
directors/advisors
seed investors
round 1 employees
round 1 investors
round 2 employees
round 2 investors
public

File = 165281482.xls.ms_office
Worksheet = Summary Results

$
$
$
$
$
$
$
$
$
$

52,072,669
9,189,295
5,327,127
16,647,273
8,400,000
76,363,636
12,000,000
120,000,000
75,000,000
375,000,000

Amount of
original
investment

Times
investment
earned

$
10,000
$
88,235
$
102,302
$ 1,000,000
$
550,000
$ 5,000,000
$ 1,000,000
$ 10,000,000
$ 75,000,000
$ 92,750,537

5,207
104
52
17
15
15
12
12
1

11:24 AM 8/18/2013
Copyright 2001, Michael Gonnerman, Inc.

CAPITALIZATION TABLE GENERATOR/MG

founder

options -- initial hires

options -- dir+adv

seed capital

founder
option pool -- initial hires
option pool -- directors/advisors
option pool -- round 1 pool
option pool -- round 2 pool
seed capital
round 1
round 2
ipo

1,000,000 100%
0%
0%
0%
0%
0%
0%
0%
0%
1,000,000 100%

1,000,000
176,471

85%
15%
0%
0%
0%
0%
0%
0%
0%
1,176,471 100%

1,000,000
176,471
102,302

78%
14%
8%
0%
0%
0%
0%
0%
0%
1,278,772 100%

1,000,000
176,471
102,302

Valuation post money

Value/price per share
Total shares

10,000
0.01
1,000,000

588,235
0.500
1,176,471

1,278,772
1.000
1,278,772

5,000,000
3.128
1,598,465

round 1

63%
11%
6%
0%
0%
319,693 20%
0%
0%
0%
1,598,465 100%

Shares for option pool + new investor

% for option pool
% for investors

File = 165281482.xls.ms_office
Worksheet = Capitalization Table

1,000,000 31.0%
176,471 5.5%
102,302 3.2%
161,313 5.0%
0.0%
319,693 9.9%
1,466,482 45.5%
0.0%
0.0%
3,226,261 100.0%

round 2
1,000,000 17.4%
176,471 3.1%
102,302 1.8%
161,313 2.8%
230,447 4.0%
319,693 5.5%
1,466,482 25.5%
2,304,472 40.0%
0.0%
5,761,180 100.0%

11,000,000
3.410
3,226,261

25,000,000
4.339
5,761,180

1,627,795
9.91%
90.09%

2,534,919
9.09%
90.91%

pre ipo share adj

post ipo

4,339,389 17.4% 4,339,389

765,775 3.1%
765,775
443,927 1.8%
443,927
700,000 2.8%
700,000
1,000,000 4.0% 1,000,000
1,387,273 5.5% 1,387,273
6,363,636 25.5% 6,363,636
10,000,000 40.0% 10,000,000
0.0% 6,250,000
25,000,000 100.0% 31,250,000

13.9%
2.5%
1.4%
2.2%
3.2%
4.4%
20.4%
32.0%
20.0%
100.0%

founder
initial hires
directors/advisors
round 1 employees
round 2 employees
seed investors
round 1 investors
round 2 investors
public

300,000,000
12.000
25,000,000

11:24 AM 8/18/2013
Copyright 2001, Michael Gonnerman, Inc.