Get a clearer picture of how SAFEs and notes affect equity

This is often useful once a company has raised through more than one SAFE or note and the ownership picture is no longer obvious from internal spreadsheets alone. Founders commonly seek this help before a priced round, during investor due diligence, or when trying to explain likely dilution to the board or existing stakeholders. It can also be valuable where different instruments were issued at different times and contain different caps, discounts or side terms. In those situations, a clearer cap table can help everyone work from the same assumptions.

The difficulty usually comes from the conversion mechanics rather than the headline amount invested. Different valuation caps, discounts, issue dates, side letters and trigger events can all change the eventual equity outcome. Problems also arise when ordinary shares, options, SAFEs and notes are being tracked in separate documents by different people. That can lead to inconsistent dilution assumptions or investor conversations based on the wrong numbers. This service helps bring those moving parts into one clearer view, but it depends on the underlying records and instrument terms you provide.

You receive a custom cap table reflecting the shares and convertible instruments you have told us about, together with legal guidance on how those instruments may interact with future conversion events. We also provide a summary explanation of the assumptions used, so the numbers are easier to follow in investor or founder discussions. This is broader than handing over a blank model because the work is tied to your actual documents and capital structure. It does not include drafting new SAFE documents or running a full fundraising process for you.

Not usually. This page is about understanding and presenting the ownership position created by instruments that already exist, rather than drafting a new investment instrument. If you are negotiating a fresh SAFE or note, that is a separate legal task with different issues, such as the investment terms themselves and how they fit into the wider raise. Here, the main goal is to map current equity and likely conversion outcomes. If we spot a problem in one of the underlying documents, we can flag that and discuss separate drafting support if needed.

It can help organise the picture, but it cannot magically correct unclear or inconsistent source documents. If share issuances, board approvals, SAFE terms or note records do not line up, the cap table may need to reflect assumptions or alternative scenarios rather than one settled answer. That is still useful because it shows where the uncertainty sits and what may need separate legal attention. If the records are especially incomplete, we may suggest additional work beyond this fixed-fee so the underlying documents can be checked before the cap table is finalised.

Working with us is simple. Start by submitting an enquiry through our website using the form at the top of this page or on our Get Started page. A legal project manager will review your enquiry within 1 business day and reach out to understand your needs.

They'll send you a fixed fee quote outlining costs, scope, and timing. If you're happy, you can accept and sign our engagement letter online. Once that's done, we'll connect you with an expert lawyer who will complete your project via email, phone, or video chat, with the timing confirmed in your quote.

If you're not looking for help with a specific matter, explore our platform, which offers free templates, tools to get your business set up, and even a free tier to get started. Whether you need legal support or just want to browse resources, we've got you covered.

At Sprintlaw, our pricing is transparent and designed for startups and small businesses. Many one-off legal services, including document drafting and reviews, are provided for a fixed fee with an upfront quote before you proceed.

Prices typically range from £100 to £1,500 depending on the complexity and scope of the work. For ongoing support, Sprintlaw Memberships include options such as legal templates, consultations, a legal helpline and credits for services.

If your project is larger or more complex, we will provide a tailored quote after understanding what you need.

Sprintlaw UK operates fully virtually, with the team working online across the UK to provide support to startups and small businesses nationwide. Many of our team are based in London and often meet at co-working offices, but our operations remain fully digital, ensuring flexibility and efficiency for both our clients and team.