Fully Diluted Shares
Definition
Fully diluted shares count all shares outstanding plus everything convertible into shares: options (granted and often the unallocated pool), warrants, SAFEs, and notes.
Wie es im Fundraising vorkommt
Valuations and ownership percentages are negotiated on a fully diluted basis, so a “10 percent” stake means 10 percent after all instruments convert.
Häufig gestellte Fragen
Why do investors insist on fully diluted math?
It prevents ownership from being quietly eroded by instruments that convert later; everyone negotiates against the same complete denominator.
Does the unallocated option pool count?
Usually yes in venture negotiations, which is why pool expansions before a round effectively come out of founder ownership.
Verwandte Begriffe
Setzen Sie diesen Begriff ein
Definitionen gewinnen nur dann Verhandlungen, wenn Sie sich in einer befinden. Finden Sie die Investoren, die Ihre Phase finanzieren, und beginnen Sie das Gespräch.
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