Exit Events

An exit event refers to any event whereby investors can realise a return on their investment, such as the sale of your company or an initial public offering. Odin is well-equipped to handle the admin surrounding exit events.

As soon as Odin is notified about a deal exiting

Odin will ask you what format the legals will be in. Our preference is to be sent a drag-along notice rather than signing any legals, but if legals need to be signed, we can do so with approval from Odin’s Finance team. As with investment agreements, all communication here needs to be with legal@joinodin.com.

Internally at Odin, the deal is moved from ‘Completed’ to ‘Exit in Progress’, which kicks off some extra back-end processes.

As soon as Odin receives the legals in relation to the exit

Our team will create a folder specifically to record the relevant legals.

Odin will then provide our bank details in the relevant currency to your company and your lawyers, and will regularly monitor for the inbound funds.

As soon as Odin receive all funds and legals from your company

Our team will begin work on an exit calculation, to be saved in the same internal folder as the legals.

This exit calculation will then be submitted for review by our Finance team. This includes all amounts to be returned to investors.

• If Odin itself has carried interest (only applicable when Odin has introduced investors into the deal), our team would calculate the carry and share it with you as the investee company contact for your sign-off.

For every investor involved in the exit event, we’ll create a personalised copy of the Exited Investment Letter and share with every investor via email.

As soon as investors reply

Our team will set up a wire request internally for each investor, including their bank details (we use the ones that investors provide to us upon account setup, but will always confirm that this is the bank account they’d like the exit proceeds wired to.)

Funds will then be released to the investor, and we will ask them to confirm receipt.

Upon receipt, we’ll update the internal tracker column for that investor to ‘Complete’.

The exit event is completed from Odin’s perspective once this has happened for all investors.