Changelog

Cap Table Builder

Version 1.5.0

Updates to the cap table builder, newest first. Open the builder.

1.5.0

September 20, 2026

·Add with AI is now a conversation. It keeps context across clarifying questions and corrections, preserves the chat when the cap table is expanded or collapsed, and summarizes the changes it made.
·Import Excel (.xlsx and .xls) or searchable PDF files, choose the relevant sheets or pages, review the proposed cap-table events, and then apply them to the builder.
·The builder actions now stay together above the model: Add with AI, Import, and one Export menu for formatted Excel, editable Excel, and Open Cap Table Format.
·The AI composer now runs through the shared OpenRouter model setting with conversation, request-size, tool-round, per-minute, and daily usage limits.
·Cap Table Model and Exit Waterfall are now available from the title switcher, and the product-page builder callout uses a clearer action button.

June 11, 2026

·Editable Excel export. The priced round is now built as live circular formulas, so editing a SAFE cap, a pre-money, or an investment re-solves the whole round inside Excel. Google Sheets users turn on iterative calculation first.
·Proforma cap table is broken out by share class: common, each preferred series, options, and warrants as their own columns.
·SAFE conversion now floors at the price new equity pays. A capped SAFE with no discount converts at the round price whenever the round prices below the cap, and the same now applies to fixed-percentage SAFEs. This corrects an earlier version that converted some of these at the cap price.
·Excel exports match the Hemrock model styling: blue inputs on a gray fill, a link back to the builder, and a license note.

May 22, 2026

·Anti-dilution: weighted-average and full ratchet, with the make-whole shown in the share-price math.
·Full convertible coverage: SAFEs and notes with pre-money, post-money, and fixed-percentage caps, discounts, MFN, and accrued interest.
·Detailed cap table by share class, with a clickable breakdown behind every round's price per share, plus an Excel export.

May 15, 2026

·Initial release. Model founders, option pools, priced rounds, and convertibles, and watch ownership and dilution update as you edit.