Homeit brings seamless smart access technology to the sharing economy’s short-term property rentals
- Lisbon, Portugal
Categories: Travel, Leisure & Sport Digital B2B
This is a pre-emption campaign for Homeit.
Please note that as part of its latest investment round with Creative Wings, Portugal Ventures and Lean Company Ventures, the Company has been converted from a quota company to a company limited by shares. The Company now has three different classes - ordinary shares, Class A shares and Class B shares (details of which are set out below). The existing quotas held by Seedrs investors are now Class A shares and your portfolio has been updated to reflect the change from quotas to shares of nominal value €0.01 each.
The Company has raised €1,050,000 in this investment round, apportioned between the investors as follows:
1. €250,000 from Creative Wings at a fully-diluted pre-money valuation of €2,810,786.72 for Class A Shares;
2. €800,000 in total from Portugal Ventures and Lean Company Ventures at a fully-diluted pre-money valuation of €3,500,001.55 for Class B Shares.
Portugal Ventures may also invest a further €400,000 into the company provided certain milestones are met.
Because Seedrs investors will be receiving Class B Shares in this round, Seedrs investors are invited to pre-empt on the investment round at the same valuation as Portugal Ventures and Lean Company Ventures. However, your pre-emption allocation has been calculated on the basis of the pre-money of both tranches of investment.
As this is a pre-emption campaign available only to existing investors, limited information is being provided about the company at this time.
Details of share classes
Class B Shares carry both an anti-dilution protection and a 1.1x non-participation liquidation preference. Class A shares only carry a 1.1x non-participating liquidation preference, which ranks behind Class B Shares.
In the event of a liquidation event, Class B shareholders have the option to request that the proceeds be distributed in the following priority:
1. First to Class B shareholders by paying them an amount per Class B share equal to 1.1x the subscription price for each Class B share held;
2. Second to Class A shareholders by applying the same criteria; and
3. The remainder to be distributed amongst ordinary shares pro rata.
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