The Future Equity Agreement (SAFE) under Danish law serves as a streamlined investment instrument designed to facilitate early-stage funding for startups while deferring complex valuation discussions to a later date. This document type emerged as an alternative to convertible notes and has been adapted to comply with Danish legal requirements while maintaining its essential simplicity. It is particularly useful when companies need quick access to capital without the immediate need to determine company valuation or issue shares. The agreement typically includes provisions for conversion during qualified financing rounds, exit events, or dissolution events, all structured within the framework of Danish corporate and securities laws. This version incorporates specific Danish legal requirements regarding share issuance, corporate governance, and investor rights, making it suitable for use by Danish companies or foreign companies seeking investment under Danish jurisdiction.
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Key Requirements PROMPT example:
Future Equity Agreement
I need a Future Equity Agreement under Danish law for a €500,000 investment in my fintech startup, with a valuation cap of €5 million and pro-rata rights for the investor, to be completed by March 2025.
1. Parties: Identification of the company and the investor, including registration numbers and addresses
2. Background: Context of the agreement, including company status and investment purpose
3. Definitions: Key terms used throughout the agreement, including technical and financial definitions
4. Investment Amount: Specification of the investment sum and payment terms
5. Conversion Rights: Terms governing when and how the investment converts to equity
6. Conversion Price: Formula and mechanisms for determining the price at which the investment converts
7. Company Representations: Essential company warranties about its legal status and authority
8. Investor Representations: Basic investor warranties about investment capacity and understanding
9. Information Rights: Investor's rights to receive company information and reports
10. Assignment and Transfer: Rules regarding transfer of rights under the agreement
11. Notices: Communication requirements and contact details
12. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction
13. Execution: Signature blocks and execution requirements
1. Most Favored Nation: Optional provision ensuring investor gets best terms offered to future investors, used when requested by sophisticated investors
2. Pro-rata Rights: Right to participate in future funding rounds, included for strategic investors
3. Board Observation Rights: Rights to attend board meetings, typically for larger investments
4. Confidentiality: Detailed confidentiality provisions, needed when not covered in separate NDA
5. Tax Treatment: Specific tax-related provisions, included when particular tax structure is desired
6. Dispute Resolution: Alternative dispute resolution procedures, included when arbitration is preferred over court proceedings
7. Founder Commitments: Specific obligations of founders, included when founder involvement is crucial
1. Cap Table: Current capitalization table of the company
2. Conversion Calculations: Detailed examples of conversion calculations under different scenarios
3. Company Information: Detailed company information including corporate documents and structure
4. Investment Terms Summary: Summary of key commercial terms for quick reference
5. Form of Conversion Notice: Template for executing conversion rights
6. Required Corporate Approvals: List of corporate approvals needed for agreement execution
7. Disclosure Schedule: Company disclosures against representations and warranties
Authors
Relevant legal definitions
Agreement
Board
Business Day
Capital Shares
Change of Control
Company
Company Capitalization
Conversion Price
Conversion Rights
Conversion Shares
Danish Companies Act
Dilution
Dissolution Event
Equity Financing
Exit Event
Fair Market Value
Fully-Diluted Capitalization
Investment Amount
Investor
IPO
Liquidity Event
Liquidity Price
Major Investor
Most Favored Nation Right
Ordinary Shares
Post-Money Valuation Cap
Pre-Money Valuation
Preference Shares
Pro-rata Rights
Qualified Equity Financing
Registrant
Registration Rights
Safe
Safe Preferred Shares
Safe Price
Standard Preferred Shares
Subsequent Convertible Securities
Transfer
Unqualified Equity Financing
Valuation Cap
Board
Business Day
Capital Shares
Change of Control
Company
Company Capitalization
Conversion Price
Conversion Rights
Conversion Shares
Danish Companies Act
Dilution
Dissolution Event
Equity Financing
Exit Event
Fair Market Value
Fully-Diluted Capitalization
Investment Amount
Investor
IPO
Liquidity Event
Liquidity Price
Major Investor
Most Favored Nation Right
Ordinary Shares
Post-Money Valuation Cap
Pre-Money Valuation
Preference Shares
Pro-rata Rights
Qualified Equity Financing
Registrant
Registration Rights
Safe
Safe Preferred Shares
Safe Price
Standard Preferred Shares
Subsequent Convertible Securities
Transfer
Unqualified Equity Financing
Valuation Cap
Clauses
Investment Terms
Conversion Rights
Valuation
Share Issuance
Representations and Warranties
Information Rights
Pre-emptive Rights
Transfer Restrictions
Tag-Along Rights
Drag-Along Rights
Most Favored Nation
Anti-dilution
Confidentiality
Assignment
Termination
Governing Law
Dispute Resolution
Notices
Amendment
Entire Agreement
Severability
Force Majeure
Costs and Expenses
Further Assurance
Counterparts
Authority and Capacity
Compliance with Laws
Share Rights
Exit Provisions
Corporate Governance
Conversion Rights
Valuation
Share Issuance
Representations and Warranties
Information Rights
Pre-emptive Rights
Transfer Restrictions
Tag-Along Rights
Drag-Along Rights
Most Favored Nation
Anti-dilution
Confidentiality
Assignment
Termination
Governing Law
Dispute Resolution
Notices
Amendment
Entire Agreement
Severability
Force Majeure
Costs and Expenses
Further Assurance
Counterparts
Authority and Capacity
Compliance with Laws
Share Rights
Exit Provisions
Corporate Governance
Relevant Industries
Technology
Biotechnology
Fintech
Clean Energy
Software Development
E-commerce
Healthcare Technology
Artificial Intelligence
Digital Services
Green Technology
Manufacturing Innovation
Medical Devices
Consumer Technology
Enterprise Software
Robotics
Relevant Teams
Legal
Finance
Corporate Development
Executive Leadership
Investment
Treasury
Compliance
Corporate Governance
Business Development
Strategy
Relevant Roles
CEO
CFO
Startup Founder
Investment Manager
Legal Counsel
Corporate Lawyer
Investment Director
Venture Capital Partner
Angel Investor
Business Development Director
Financial Controller
Company Secretary
Chief Legal Officer
Investment Analyst
Corporate Development Manager
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