Hi Fabian, good question and something I hope all our investors understand.
“Series X shares” typically refer to preference shares issued in a single funding round. They may have many special rights with probably the most common being first claim on the proceeds of any sale, aka liquidity preference. We don’t have any preference shares, just ordinary shares.
That means in the event of an acquisition or IPO the proceeds would be distributed equally among all shareholders, regardless of when they acquired their shares.
What we do have is a dual class structure. Everyone has either A class or B class shares, or some of both. The important differences are that B class do not have voting rights or pre-emption rights.
Pre-emption rights mean that you have the right to participate in any future funding rounds on the same terms as the other investors in that round, up to your current shareholding percentage. You get to join the party, even if it is a VC round.
I think ive found the answer 3 days after the 30th of May. Really hoping I can get a chance to buy.
@adam this might be a difficult question, but going to ask it none the less, how much equity has the management team bought into? I know @Viktor has quite a bit based on his interview, but its always good to hear about alignment of interests. Anyway, im not sure if you want to answer or can answer this here?
Hi @chonkie, we’re contacting investors on a first come first served basis when they have registered their interest, and will give them instructions to make the investment by the 30th May at 5pm
Stock options are a significant part of everyone’s compensation, which is quite unusual for Europe - we give the same level of stock options as startups in California. So yeah, we are all 100% aligned!
Only one inaccuracy in the article: “currently waivers fees for portfolios under £10,000” - not true, all portfolio sizes are free. We’re getting it fixed.
Thanks for the response. Something seems to be wrong on the Crowdcube site - I cant seem to access the free trade pitch at all - whether from my account/portfolio page or direct.
Hey - this is normal. Crowdcube have to close the page to enact groups of swap ins. It’ll re-open for people to express interest at 5pm today. We’ll send an alert then too via email.
@freetrade_team I have invested in this Crowdcube round. I am trying to download the investor deck but unable to access it on the pitch page as the link seems broken. Can you point me to the investor deck on Freetrade website or elsewhere. Need that information so that I can review it in details.