Warrant – Setup and Modify
Step 1: You need to first log into your Eqvista account and select the company profile for setting up the warrant and issuance. Here, click on “Securities” from the left-hand side panel for a drop-down menu to appear. Select the option “Warrants” and you will be directed to the following page.
On this page, you will find the details of all the warrants that are there in your company. In case you haven’t yet issued any warrant, you will find the message saying, “No warrants have been created yet”. And with this, there will be a button under this message that says, “Create New Class”.
In this example, there are already warrants created. And below them, there is the button that says, “Create new class”. Click on this button.
Step 2: By clicking on this, you will be directed to the following page.
Here, you need to just add the name of the warrant that you are creating. Once done, click on “Submit”.
Step 3: On Submitting it, you will be directed back to the page where you can now issue the warrant to the shareholder.
Here, you have the option to search for a shareholder or to add a shareholder from here directly. In this example, we select the search option.
You will see a field where you can type in the name of the shareholder you are searching for. When you type in the name, the full name would appear on the right-side with a Select button. Click on this.
Step 4: As soon as you do this, a new panel would appear.
Add in the details including the number of warrants issued, the exercise price, date of issuance, expiration period (after this time the warrant can no longer be redeemed as shares in the company), and the warrant certificate name.
Along with this, you also have the option to choose if there is a vesting schedule for this or not. You can choose “yes” if you want one (just ensure that your vesting plan has been created. – Here is how to create a vesting plan). And choose “No” to not add a vesting plan, as done here.
The last option that you need to fill is if you need shareholder acceptance. This means that, for the issuance to complete, the shareholder needs to accept and sign it. If you choose “Yes” the acceptance notification would go to the shareholder. Here is how to use this feature!
In this case, we selected “No” for the vesting schedule and for obtaining shareholder acceptance. Once done, click on “Submit”.
Step 5: You will be directed back to the page where you can see all the warrants. The warrant you just create can be seen and the issuance you made from this warrant can also be seen here.
Let us assume that you want to issue another warrant from this warrant you just created. In this case, click on “Issue grants”. Just ensure that you have already selected the warrant name from which you want to issue the warrants. In this case, we selected “Warrant 3” that we created at the starting.
Step 6: Once you do this, you will be taken back to the step from where you need to search for the shareholder, select them and then add the details just as done in steps 3 and 4.
Let us assume you selected the shareholder and reach the next page to add in the details as shared below:
Once done, click on “Submit”.
Step 7: Once you do this, you will be redirected to the page where you can see the two warrants issued from the same Warrant group.
Step 8: If you want to modify anything in the warrant, click on the warrant name. In this case, we have already clicked on “Warrant 3”. From here click on the button “Actions” on the right side of the page.
You will have three options – edit warrant class, edit notes and delete security. Edit notes mean to edit the notes of this warrant class. The delete option would delete the security. Since we want to edit the warrant class, click on “Edit warrant class” from here.
Step 9: When you click on the edit option, a new panel will appear as shown below.
Edit the parts that you want to and click on “Save Changes”.
Step 10: As soon as you click on this, the warrant is updated as shown below.
And just like this, you can create warrants, issue them and also modify them.
If you want to know more or understand any other process on Eqvista, check out the other support articles here or contact us today!
