If your business is currently raising capital, and you’re looking at investors who are keen on investing in your company, you may need a few documents.

In some cases, you may have investors who are willing to pay in advance for shares that will be allocated at a later date. An Advanced Subscription Agreement is essential here as it captures the details of this arrangement. This way, if anything goes wrong, parties can refer to this Agreement and follow a smooth process with minimal hiccups or issues.

If you need an ASA, this package also includes a Shareholders Agreement so that your investors are bound to your terms.

A Shareholders Agreement is necessary for any company with shareholders. This is because it captures the details of the arrangement, such as how shares are allocated, how many shares are allocated to each person, how much the shares are and what happens if a shareholder wants to leave.

An Advanced Subscription Agreement can often be confused with a SAFE Note.

While they are similar, it’s important not to confuse the two. An ASA has no interest and investors cannot get their money back. This way, it qualifies for certain tax relief.

We’ve written more about the key differences between the two documents here.

Our fixed-fee ASA & Shareholders Agreement packages start at £1100 + VAT. This includes:

• Phone consultations with a Sprintlaw lawyer who can answer your legal questions
• High level review of your company’s constituent documents (such as the Articles)
• 1 round of finalising changes to your ASA for up to 5 investors
• Preparing a Shareholders Agreement
• Preparing any required ancillary documents (such as investor consent notice, board resolution and shareholder resolution).

Our team is made up of experienced lawyers, who are specialists in various areas of law. Many of our team have trained at leading law firms and left the traditional corporate law world to join us on our mission to create a new and better way of delivering legal services. Our team has expertise in all areas of startup law, including technology law, intellectual property law, contract drafting and review, corporate law and commercial law.

Our use of technology allows our team members to work remotely from around the world, including the UK and Australia. We generally work with our clients entirely online and over the phone. Our UK team often work out of Flow Space co-working spaces in London.

Sprintlaw is a new type of a legal practice called a ‘legal consultancy.’ This is a new, innovative model of practice which has been available since 25 November 2019 when the Solicitors Regulation Authority (SRA) rolled out certain regulatory reforms in England and Wales. You can read more about legal consultancies in our ‘FAQs’ page, here.

To work with us, just submit an enquiry through the site. After you’ve submitted an enquiry, one of our legal project managers will review your enquiry within 1 business day and get in touch to get a better idea of exactly what you are looking for.

Then your legal project manager will send through an email with a bit more information about the services you need, along with a fixed-fee quote setting out costs, scope of the service and timing. Have a read through it, and if you’re happy with the scope, you can accept and sign our engagement letter online – easy!

Once you’ve formally accepted, we’ll connect you with one of our lawyers and they will work with you to complete your project over email, phone and/or video chat – whatever you’d prefer