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Delaware C-Corp

From the first SAFE to the exit waterfall.

Classes, convertibles, priced rounds and dilution scenarios in one venture model.

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Conversion at cap, discount or round price

30-day Founder trial on every new workspace.

Conversion previewDemo data
Illustrative example

Legal forms and links

Legal forms in the venture model

  • C-Corp
  • PBC
  • LLC
  • USD by default

Typical founder questions

  • What is my stake after the SAFE converts?
  • Pre or post?
  • Which approvals block the close?

The rule

Three questions one model answers

A SAFE changes every holder's share at conversion. The model shows the result for each method before the round closes.

  1. 01

    Ownership is recomputed from source entries.Contributions, issuances and transfers are recorded; the percentages follow from them.

  2. 02

    Scenarios are simulation-only until a round or a contribution is executed.You can compare outcomes without touching the live model.

  3. 03

    Approval requirements follow from the bodies and rights recorded in your documents.The product reads the charter, resolutions and agreements you entered — it does not assume statutory rights.
Illustrative example

How the model works

Cap vs discount vs round price

The conversion price is the lower of the cap price and the discount price, and never above the round price. The preview shows shares and post-money stake per holder for each method.

Conversion calculator
Inputs
PrincipalAmount invested
Valuation capPost-money
Discount20%
Round pricePer share
Result per method
MethodSharesPost-money
Cap price25 00020% · Applied
Discount price20 00016%
Round price16 00013%

Governance for this structure

Exit waterfall with preferences and seniority

Liquidation preferences, participation and seniority ranks per class; convertibles excluded, repaid or treated as-if-converted at cap.

Exit waterfall by share class — illustrative example
ClassSeniorityPreferenceParticipationShare of proceeds
Series A Preferred11×Non-participating30%
Seed Preferred21×Participating, capped20%
Common———50%

Convertible treatment in the scenario

  • Excluded
  • Repaid
  • As-if-converted at cap

Modules in this model

Modules in the venture model

  • Key module

    Cap table

    Share classes, holders, option pool and fully diluted ownership recomputed from issuances and transfers.

  • Rounds

    Priced rounds with pre- or post-money valuation, ESOP top-up and the approvals that block the close.

  • Convertibles

    SAFE and CLA with cap, discount and interest; conversion preview per method.

Boundaries of the model

  • Models

    Scenarios and waterfalls are models.

  • Supported terms

    Bespoke terms outside the supported set are not covered.

  • Filings

    Registration filings are outside the product.

Model your C-Corp on the Founder trial — 30 days free.

Enter the classes and the SAFE; compare the conversion methods before the round.

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30-day Founder trial on every new workspace.