Knowledge Base: Make custom changes to documents

You can amend the documents on the platform using the optionality in Step 1 of the funding round. See the guidance on defining your round here.

However, if you need to amend documents in a way not available on the platform and the changes are relatively straightforward and small in number (<5) then you can;

1. Download the PDF files
2. Open them in Microsoft Word
3. Switch on track changes
4. Make the amendments
5. Send the files back to us

We’ll then make these amendments for you on the platform.

Finally, if you have extensive changes to any of the documents then we can export the file(s) in Markdown format. You can make the changes to the document and send to us and we’ll upload. Note, these changes can be brittle (ie if you change a setting on the platform these changes may not neatly apply and we’ll need you to re-edit the Markdown file.

We will not be able to apply customer edits to the Term Sheet(s) or the Subscription and Shareholder agreement Schedule 1 and/or Schedule 2.

In all instances, you should double check that any changes requested result in an output that meets your requirements.

You can check the changes by following the provided steps.

FAQs

Once we have requested the amendments to the SSA and it’s updated and re uploaded onto the platform, can we then still make edits through the ‘Defining’ stage?

You should try to get the settings right first and minimise changes – there’s a chance that the manual changes you’ve requested can conflict with the changes implied by settings changing on the platform

What do the following mean in the Shareholders Agreement?

"Each of the Founders and any Existing Shareholders agrees to vote in favour of the Shareholder Resolutions."

You will pass the authorisations required to implement the funding round.

"Funding round investor consents"

Most investors will insist on approving certain material and/or non-ordinary course actions before they are taken by the business, and in most cases this is viewed as reasonable. This relates to the rights of an investor or investors to prevent the company from taking (or agreeing to) certain actions without their consent. Consent from holders of over 50% of the investor shares is required. You can see the consents in schedule 5 of the Subscription and Shareholders Agreement.

Can I shorten documents i.e. the Shareholders Agreement?

Yes, this may be possible by following our guide. You can remove sections you consider irrelevant, and we can integrate these changes back into the platform. However, proceed carefully to ensure that no essential clauses are omitted, as they may be legally required or critical to the agreement's integrity.

Once changes have been applied to the documentation, can we add further investors if they join after?

Yes, you can add investors as normal.

Can the Shareholder Agreement be amended without all shareholders agreeing to the change? Wouldn't it still require a deed of variation or a new agreement signed by all shareholders?

The Shareholder Agreement allows for amendments if the following conditions are met:

• Consent Requirement: The prior written consent of the Company and shareholders holding at least 75% of all issued shares is obtained.

• Impact on Shareholders: If the amendment imposes new obligations, changes an express contractual right, decreases a right, or increases an existing obligation for a specific shareholder, the consent of the affected shareholder is required.

While this clause enables amendments without unanimous agreement in some cases, most amendments to a Shareholder Agreement typically involve imposing obligations or altering rights. As a result, such changes would necessitate all shareholders signing a new agreement or a deed of variation to reflect the changes.