Secondary Transfer of SPV Interest (SecSIs)
If one or a number of investors inside an SPV wish to sell their shares to another investor who will also sit inside the SPV, or else transfer the shares to another legal entity that they also control, this is what is known as a Secondary Transfer of SPV Interest, or SecSIs.
If a situation arises which constitutes a SecSI, please inform either your Customer Success representative or our Customer Support team, who will reach out with the next steps.
SecSIs are charged at 2%, with a minimum fee of £1,000 and a maximum fee of £3,000, for each investor.
Stamp duty, if applicable, is deducted at close from Odin’s fee. Effectively, it is paid by the buyers in most cases.
SecSIs may trigger a carried interest payment to the syndicate lead, if any profit has been yielded by the investor. This will also be calculated and handled as part of the event.
We cannot guarantee the transfer will be allowed as it depends on the specific company you are investing in. There may be transfer restrictions in the documents that allow the company or existing shareholders the right to decline transfers.