Post-money SAFE – Setup and Modify

If you are using Eqvista, you are already aware that you can issue stakeholders with SAFE. The best thing about this application is that you can manage your shareholders, common equity, cap tables, and company filings in one place.

Here are the steps to follow:

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

On the dashboard, click “Securities” from the left-hand side and then “Convertible Instruments”. 

Step 2: On this page, you will see all the convertible securities issued in the company. To create a SAFE, you need to click on the “Issue Instrument”.

Step 3: Then, you will be directed to add the details and issue the SAFE. Choose the shareholder from the drop-down list.

Note: You must have the shareholder profile already created. Check out the support article to add a shareholder. 

Step 4: Once you do this, fill in the fields – Convertible Note Name, Issue Date, and Note Type. 

Note: On Eqvista, you will find three types – YC VC SAFE, Y Combinator SAFE – Pre Money, and Y Combinator SAFE – Post Money.

Step 5: After selecting the option, two other panels will show up with one field in each.  The first field would be for filling the “Principal Amount” and the second field is – “Converts to”. The type of stock the convertible note converts to – choose from common or preferred stock. 

Step 6: As you select the type of shares the security converts to, some other fields appear- Conversion Trigger Amount, Valuation Cap (with No Valuation Cap option), Early Exit Multiple, and Conversion Discount.

Fill in all the details and click on “Submit”.

Step 7: Then, you will be directed to the details of this SAFE you just issued. From here, click on “Actions” to get a drop-down menu and select “Edit Security”.

Step 8: Now, you can edit the details of the SAFE security.

Once you are done editing the details, click on “Save”.

If you want to further understand how to use the Eqvista application, check out our support articles or contact us today!