- Investment sought:
- Equity offered:
Poq is a commerce platform for native retail apps. The SaaS platform enables over 30 retailers, including House of Fraser, Missguided and Made.com, to deliver best-in-class mobile apps across Android and iOS – updated quarterly and integrated with any major e-commerce platform. We offer large retailers a reliable and scalable way to deploy and maintain native apps.
Seedrs investors in this round will receive Series B1 Shares, the same share class as the lead investor in this round. The Series B1 Shares enjoy certain preferential rights as described below, but do not qualify for EIS relief. We appreciate some investors would prefer to receive EIS eligible shares, but this has not been possible to achieve on this round.
The Series B1 Shares rank ahead of the Series A Share and Ordinary Shares in the event of a distribution of proceeds (whether by way of distribution of proceeds on winding up, a return of capital or share sale). The order of preference is somewhat complicated and the Articles of Association are attached so that investors can review in full (see Article 5). In summary, the preference structure is designed so that:
• First, the Series B Shares will receive the higher of: (i) the original subscription price; or (ii) their proportionate entitlement to proceeds (if all shares participated equally).
• Secondly, the Series A Shares enjoy a participating preference, up until the point that they receive a 3x return on their investment. That is, they receive a preferential return of 1x their investment, and then get to participate alongside ordinary shares on a pro rata basis until they receive another 2x their original investment.
• After that, remaining proceeds are distributed amongst ordinary shareholders on a pro rata basis.
• If a return of proceeds would see investors receive a more than 3x return on a pro rata basis, the A Shareholders are likely to elect to convert to ordinary shares.
All shares have equal voting rights.
The Series B1 Shares and Series A Shares enjoy anti dilution rights in the event shares are issued at a price lower than such shares were purchased at.