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Post by vita19 on Dec 24, 2016 16:24:16 GMT
The effective value without institutional investor is £20m. For external investors AC would suggest a value of £25m.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 9, 2017 15:52:45 GMT
For any investors in the Seedrs AC convertible there is a significant dicussion thread running at the moment with input from Stuart
NB: Longstop is 2 months from yesterday
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Post by Jack Barlow on Mar 9, 2017 16:23:33 GMT
For any investors in the Seedrs AC convertible there is a significant discussion thread running at the moment with input from Stuart NB: Longstop is 2 months from yesterday Thanks ilmoro As a direct investor, I'm unfortunately not privy to the Seedrs discussion. By "significant" do you mean lots of posts or some posts with relevant information on the likely convertible timing? I'm possibly in a minority, but I'd prefer the conversion to take place after 5th April for tax purposes. Jack
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Post by Butch Cassidy on Mar 9, 2017 16:28:34 GMT
For any investors in the Seedrs AC convertible there is a significant dicussion thread running at the moment with input from Stuart NB: Longstop is 2 months from yesterday That all sounds very positive, with exceedingly strong platform prospects & projected revenues, I will be ecstatic when it happens, however this is AC & experience suggests that timescales & expectations may just be a touch optimistic 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 9, 2017 16:57:29 GMT
For any investors in the Seedrs AC convertible there is a significant discussion thread running at the moment with input from Stuart NB: Longstop is 2 months from yesterday Thanks ilmoro As a direct investor, I'm unfortunately not privy to the Seedrs discussion. By "significant" do you mean lots of posts or some posts with relevant information on the likely convertible timing? I'm possibly in a minority, but I'd prefer the conversion to take place after 5th April for tax purposes. Jack The latter, 3-4 contributions from Stuart with general comments about current situation/timings. Indications are that it is likely to be post longstop and certainly not this tax year.
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tonyr
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Post by tonyr on Mar 10, 2017 19:15:16 GMT
Someone at AC really should email the direct investors with the contents of Seedrs. I'll pester Stuart - he did promise that direct investors would be kept up to date.
I can't remember the long-stop provisions - I really never expected it to get to 2 years. I'll be mightily annoyed if we convert at 2 years and then there is subsequent investment at much more than the conversion value.
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bigfoot12
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Post by bigfoot12 on Mar 10, 2017 22:03:12 GMT
I'll be mightily annoyed if we convert at 2 years and then there is subsequent investment at much more than the conversion value. Surely you mean less?
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tonyr
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Post by tonyr on Mar 11, 2017 10:14:17 GMT
I'll be mightily annoyed if we convert at 2 years and then there is subsequent investment at much more than the conversion value. Surely you mean less? Indeed.
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Post by msa on Mar 11, 2017 13:11:59 GMT
So that's just two years later than Stuart "over-promise and under-deliver" Law stated in the campaign! I'm not in Seedrs discussion but am I correct assuming that if the series A occurs after the long-stop date (which seems to be what ilmoro is implying) then investors will be exercised into their shares at the floor level valuation of £25m? That would imply that they couldn't get a better deal done prior to the long-stop date. Based on publically traded valuations of US platforms like LC and OnDeck that isn't surprising, but given FC's recent funding round (valuing them over £1bn) you might have thought perhaps AC would be able to get a much better price than £25m. Has anyone commented on whether AC shares are still EIS eligible? That's key to limiting downside which is important now. If the exercise occurs in 2Q17 then exiting via trade sale or IPO before the next downturn may be challenging. With the 20% discount applied at the long stop date the valuation is effectively GBP 20 mio to Seedrs investors. Why should the shares not be EIS eligible anymore? That would be indeed a significant deterioration both for the anticipated upfront tax refund and future tax "benefits".
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bigfoot12
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Post by bigfoot12 on Mar 11, 2017 13:27:33 GMT
With the 20% discount applied at the long stop date the valuation is effectively GBP 20 mio to Seedrs investors. I don't remember the AC details, but a company currently raising money on Seedrs makes it clear that the discount does not apply to the longstop price. With the 20% discount applied at the long stop date the valuation is effectively GBP 20 mio to Seedrs investors. Why should the shares not be EIS eligible anymore? That would be indeed a significant deterioration both for the anticipated upfront tax refund and future tax "benefits". Many lending businesses are excluded and some rules have changed. Several fundraises for businesses somewhat like AC have not had EIS available, but they were a little different.
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Post by msa on Mar 11, 2017 13:49:09 GMT
With the 20% discount applied at the long stop date the valuation is effectively GBP 20 mio to Seedrs investors. I don't remember the AC details, but a company currently raising money on Seedrs makes it clear that the discount does not apply to the longstop price. With the 20% discount applied at the long stop date the valuation is effectively GBP 20 mio to Seedrs investors. Why should the shares not be EIS eligible anymore? That would be indeed a significant deterioration both for the anticipated upfront tax refund and future tax "benefits". Many lending businesses are excluded and some rules have changed. Several fundraises for businesses somewhat like AC have not had EIS available, but they were a little different. In AC case the terms were different and Stuart Law also confirmed that the discount is being applied to the long stop valuation of GBP 25mio resulting in a net entry valuation of GBP 20 mio for Seedrs investors. Let's hope that it will still be eligible for EIS.
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Post by Jack Barlow on Mar 11, 2017 16:15:15 GMT
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tonyr
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Post by tonyr on Mar 14, 2017 9:17:52 GMT
Someone at AC really should email the direct investors with the contents of Seedrs. I'll pester Stuart - he did promise that direct investors would be kept up to date. Stuart says that he'll inform all direct investors in the next quarterly update which is due in the next couple of weeks.
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ilmoro
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Post by ilmoro on May 8, 2017 9:41:40 GMT
Happy belated Longstop Day. Update on Seedrs about it. Also a shareholder update was posted 4 days ago, very comprehensive with some interesting news at the end.
Interestingly also a popup appearing about Seedrs trading Tuesdays coming soon.
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rookey123
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Post by rookey123 on May 8, 2017 10:03:36 GMT
As a direct investor I am very happy. I think we have got a great entry level price on a growing platform which is already profitable and increasingly scaleable.
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