How does proxy voting work in practice?

When your Syndicate Lead is drafting their deal on Odin, they’ll have the option to decide whether to proxy voting rights away from their investors and to another party (either themselves as the Syndicate Lead, the Founder of your company, or the Chairman of its Board).

Odin's proxies do not enable the Syndicate Lead or another party to sign legal documents on behalf of the nominee entity. Odin will still have to sign these, with the approval of the proxy holder. Proxy holders can instruct Odin to sign documents or vote in AGMs on behalf of the nominee, and Odin will always do this when instructed, except for exits events or transfers of shares, in which case the proxy falls away.

Additionally, for events where the underlying investors are transferring any shares, the investors must always give consent, regardless of the proxy.

Where there is no proxy, or where shares are being transferred (or an exit event is taking place) Odin's strong preference is to be dragged. Where this isn't possible, investors will be asked to consent by Odin (with the Syndicate Lead on cc) or by the Syndicate Lead (with Odin on cc). Investors will be given 3 business days to reply, and then we will apply a majority voting concept to the decision.