How to Reissue Agreement When Shareholder Has Signed It?

On Eqvista, you can reissue SAFE agreements and option agreements that have been signed by the shareholder in just a few simple steps.

Reissue SAFE and Option Agreements

SAFE agreements and option agreements can be reissued when you have edited SAFE details and grant details, making the existing ones inaccurate or outdated. The new agreement will automatically void the previous version.

The reissue of SAFE agreements only applies to SAFEs and is not available for convertible notes. The reissue of option agreements is only applicable to options.

Note: The agreement feature is only available for premium account holders. Kindly upgrade your account to unlock the feature. 

Here are the steps to follow:

Step 1: Log into Eqvista and select your company account.

On the dashboard, click on “Admin Records” on the left side to get a drop-down menu and select “Agreements”.

Step 2: Once you do this, you will be directed to the following page. You can reissue SAFE agreements that have been signed by the shareholder by clicking on “Reissue” as shown below.

Note: You can also reissue option agreements that have been signed by the shareholder by clicking on “Reissue” under option agreements. 

Step 3: A new panel will appear as shown below. Tick the box if the shareholder’s signature is required. A list of SAFEs with agreement to reissue will appear.

Note: Before reissuing SAFE agreements, ensure you have issued SAFE agreements. Check out the support article to understand how to issue SAFE agreements.

Note: The list for reissuing displays all SAFE notes that have an original agreement, have been updated, and have not been reissued with new agreement.

In this case, the date highlighted in “Red” is the updated date.

The moment you select the shareholder, you can see the number of shareholders selected. You can select more than one shareholder. In short, you can select all if you want to reissue SAFE agreements for all of them at the same time.

Once done, click on “Next”.

Step 4: The next step takes you to add the executor who would be signing the agreement. Select up to two executors and the role of the executor from the drop-down menu.

Note: The person who is selected to execute and sign the agreement should be either the director, the secretary, or the president. Company users can only be assigned as executors. To know how to add a company user read this support article.

Once done, click on “Next”.

Step 5: The last step involves you checking the information, including the shareholder’s agreement you want to reissue and the executor who would be signing the agreement. 

Once done, click on “Submit”.

Step 7: Once you click, the system will prompt a message asking you to request the shareholder’s consent to void the original agreement. 

Click on “Confirm” to reissue the agreement. If you want to cancel the process, click on “Cancel”.

Step 8: Then, you will be directed to the following page, where the new agreement will automatically void the previous version. The previous version of the agreement will display the status “Pending Voided” until the shareholder gives consent to void the agreement.

Step 9: The shareholder will receive an email requesting consent to void the original agreement as shown below.

Step 10: The shareholder should click on “Login to Eqvista” and then log into Eqvista.

Step 11: Once clicked, it redirects to the shareholder access view dashboard, and then click on “Tasks” on the left-hand side or click on “View’ at the bottom of the dashboard.

Note: Here, you can manage your cap table right from the dashboard. To understand how to view the dashboard, check out the support article.

Step 12: The tasks section displays the details of the SAFE agreement that needs to be given consent to void and click on “View”.  

Step 13: Here, the shareholder will have to add their signature to give consent to void the SAFE agreement as shown below.

To add the signature, the shareholder needs to type their user name in the field available.

Once done, the shareholder should click on “Confirm”. 

Note: Similarly, you can also reissue option agreements that have been signed by the shareholder. 

If you want to understand Eqvista, check out our support articles or contact us today!