A waterfall analysis tool that is tailored to your specific capital structure so that you can better understand your return in different exit scenarios and valuations
The exit model report provides you with an overview of the amount each shareholder would receive upon a specific exit value. It is based on the liquidation preferences entered for the share class. You can find more about how to add these through this link.
Worksheets in the report;
Downloading the report
To obtain your exit model, you’ll need to click on “Cap Table” page, then the green “Exports” button and “Exit Modelling”.
After selecting "Exit Modelling", you'll need to select what you want to be included in the report:
- Valuation at conversion time of any outstanding notes. Required to simulate note conversion.
- End date
Once requested you will see the below confirmation message:
The "Equity Groups" worksheet lists the equity groups with their characteristics listed including liquidation preference and seniority.
If you click on the "Waterfall Tiers" worksheet you'll be able to enter the "Exit Value". This then populates the proceeds by equity. The exit value which you enter should be the aggregate value rather than the price paid per share.
On the liquidation chart, you'll be shown how different exit values can affect the proceeds per share.
You can find a list of proceeds for each investor on the "Stakeholder Proceeds" sheet.