New Exit Waterfall

Significant update to the Exit Waterfall in the Cap Table and Exit Waterfall Tool:

• Edited the Exit Waterfall, Simple sheet to add in features previously only in the base Exit Waterfall and Exit Waterfall, Extended sheets, bringing this stucture to match the features in the previous Exit Waterfall sheets, and deleted the older sheets and renamed the Simple variant to just Exit Waterfall. This was done because the Simple version is built to use an easier formula structure than the pre-existing Exit Waterfall and Exit Waterfall, Extended sheets, and because of that it is easier to use because (1) the feature toggles to change the formulas based on the situation are no longer needed, and (2) is much easier to extend to cover more share classes and options. Previously it was very hard to extend the Exit Waterfall sheet to cover more than the prebuilt number of share classes, now it is 100x easier to extend it for any number of share classes, options with different strike prices, or warrants with different exercise prices.

Simpler, clearer,better, always innovating.

Please note that the Exit Waterfall, like the previous versions, is not built to handle unconverted convertible notes or SAFEs at exit, but can be done with a custom edit. Please contact me if you are interested in that.