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Build a Cap Table and Understand the Dilution Impact of Early-Stage Investment

January 24 @ 11:45 am - 2:00 pm

Free – $35

In today’s difficult investment climate, entrepreneurs should have a clear understanding of the impact of proposed financing – before they talk to investors. This session will both explain terms and show you the exact numerical consequences of these difficult negotiating points:

  • pre-money
  • fully diluted equity
  • option pool
  • percentage ownership
  • weighted average anti-dilution
  • full ratchet anti-dilution
  • per share price

During the workshop, you will also learn how to build your own capitalization table in a simple, but powerful spreadsheet. So make sure you BYOL – Bring your own laptop.

Once you have your basic cap table built, we will discuss in detail how to use this tool to understand the dilutive impact of various investment decisions such as:

  • stock options
  • restricted stock
  • early stage angel or venture capital investment
  • down-rounds
  • anti-dilution provisions
  • and more…

Lunch will be served.

Jeremy Halpern

Jeremy Halpern

Nutter McClennen & Fish

Jeremy Halpern is a partner and the Director of Business Development for the Emerging Companies Group at Nutter. Jeremy’s practice focuses on emerging companies, private equity, venture capital and angel financing transactions, mergers and acquisitions, executive and team compensation matters, and general start-up support. Serving as the firm’s entrepreneur-in-residence, Jeremy works with companies, investors, and executives in technology, life sciences and the food and beverage industry.


The Capital Network


Nutter McClennen & Fish
155 Seaport Boulevard
Boston, MA 02210 United States
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