What if the deal terms that I’m raising under change?

Deal terms sometimes change during the raising of a round. This can be minor, such as tweaking the share price but keeping the pre-money valuation the same, all the way to deciding to raise an equity round instead of a SAFE.

Anything can be changed in Odin when it comes to deal terms, either by you as the Syndicate Lead or by our team.

For any change that has no material impact on the economic rights or control that investors have, you can make the changes in the product without our help. You may wish to inform investors just to keep them up to date.

For any change that does impact these rights (eg. change of valuation, change of share price [if the value is higher], change of investment instrument), you must always:

• Confirm with investors who’ve already transferred into the SPV that they’re still happy to invest on the updated terms, and agree to refund them if they aren’t.
• Update the relevant deal details on Odin, and make the necessary edits to your investment memo so that potential investors are aware of the changes.

For any changes you cannot make yourself, contact our Customer Support team at hello@joinodin.com and let them know what you need to change.

Try to deal with the change ahead of time and communicate it to all parties proactively. If you were to submit a deal for closing and both Odin and your investors are led to believe it’s a SAFE, but Odin is then sent a Shareholder’s Agreement to sign with wildly different terms, Odin wouldn’t sign until all deal details had been edited and we’d seen proof of all investors’ willingness to move ahead with the updated terms. This would likely elongate the closing timelines significantly.