What if the terms I'm raising under change?

Deal terms often change during the raising of a round. This can be minor, such as changing the share price to include an extra decimal point, all the way to raising an equity round instead of raising debt. It’s important that you communicate any changes to your Syndicate Lead as soon as possible so they can make the necessary changes to their deal on Odin.

Anything can be changed in Odin when it comes to deal terms, either by the Syndicate Lead through the platform or by our team. However minute the change in terms is, the Syndicate Lead must always:

• If the changes are significant (change of investment type) or affect investors negatively (higher valuation cap), the Syndicate Lead must 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 their investment memo so that potential investors are aware of the changes.
• If they’re unable to change the terms themselves, contact our Customer Support team and let them know what they need to change.
• Try to deal with the change ahead of time and communicate it to all parties proactively. If they were to submit a deal for closing and both Odin and their investors are led to believe it’s an ASA or SeedFAST, 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 their investors’ willingness to move ahead with the updated terms. This could elongate the closing timelines significantly.