Closing a Deal

For a video guide to the closing process as a Founder, please scroll to the bottom of this page.

Confirmation of final investment details (maximum 3 days)

The first step in Odin’s closing process is to confirm the final details for the investment legals. Odin will thoroughly check all received payments from your investors and any associated fees to calculate the true final investment amount.

This final investment amount will then be communicated via email by our Deal Operations team to you, along with Odin’s signature block. If your company previously sent us a draft copy of the investment legals, the team will also communicate any required changes to the legal terms as part of this email.

Signing legal documents (maximum 4 days)

Your company will then be required to send Odin the final legal documents to sign. There is no real variation on the process depending on the type of legals Odin is being asked to sign.

If the deal is an equity deal and your company needs Odin to sign any agreements alongside the main legal documents to complete the deal (e.g. Shareholder Agreement or Deed of Adherence), please share these with us at the same time.

The simplest way of getting Odin’s signature on the investment legals is your company to send them across to Odin’s Legal team as part of a Docusign envelope. Odin can also work with similar products like Acrobat Sign and PandaDoc.

• Additionally, Odin can also sign if your company would like to send them via SeedLegals, FounderCatalyst or similar products. Odin’s account for each of these platforms will be under legal@joinodin.com.
• Odin will not, by default, receive the final version of the legals from your company as a PDF or Word documents, and then upload it to Docusign for signature ourselves.

There are two separate reviews that occur here, one with Odin's legal team and another with Thompson Taraz (Odin's custodian). Once Odin’s Legal team are happy to sign, they will add Odin’s signature on behalf of the nominee entity (Odin Investments Limited).

Once all parties have signed the documents, Odin will request the completed set of legals from your company for our records.

Fully-executed legal documents will be stored in the same folder that Odin uses to store the draft investment agreements that are shared with investors at the outset of the deal. All investors will therefore be able to access the complete, executed set of legals through the Odin platform.

Odin will then begin the process of wiring the final investment amount to your company.

Wiring funds, paying Odin’s fees and confirming receipt (maximum 4 days)

Following completion of the legals, Odin will then begin the process of wiring the final investment amount to your company.

Before proceeding, Odin’s Deal Operations team will confirm that Odin’s fees for the deal have been paid. You can reconfirm your understanding of Odin’s pricing here.

• In the case of Founder SPVs, your company always pays Odin’s fees. Ordinarily, we would net out our fees from the final investment amount that we wire to your company. If required, Odin can instead invoice your company for the fees during the closing process, and you would then pay the invoice via bank transfer. However, you’d need to inform our team about this up-front.

After the deal fees have been paid, Odin’s Deal Operations team will instruct Thompson Taraz (Odin's custodian) to set up the wire transfer. The funds will then be wired to your company’s specified bank account. 

From this point on, the deal is considered ‘closed’ on Odin. Our Deal Operations team will internally mark the deal as closed, and it’ll move to your ‘Portfolio’ of deals on Odin (the same is true for your investors). This is also the point at which the platform will automatically generate proof of investment documentation for your investors.