1. Existing Shareholders
Before the capital increase in which MyMIcroInvest Finance will participate at the end of the offer, the entrepreneurs of ViviDoctor SPRL jointly hold 97.39% of the shares of the company while the external investors hold jointly 2.61% of the shares.
2. Forecasted capital increase
The capital increase to which MyMicroInvest Finance will participate is part of a broader funding of ViviDoctor SPRL considered between 150,000 EUR and 750,000 EUR.
This funding will be allocated as follow :
- Between minimum 50,000 EUR and maximum 99,900 EUR will be subscribed by MyMicroInvest Finance based on the results of the issuing Notes ;
- A minimum of 100,000 EUR and a maximum of 700,000 EUR will be invested by other investors, i.e business angels.
The value of the company before this increase in capital is presently estimated to be a maximum of 2,000,000 EUR. Following this increase in capital, the value of the company will be between 2,150,000 EUR and 2,750,000 EUR, meaning an estimated valuation of 2,000,000 EUR before increase of capital plus between 150,000 EUR and 750,000 EUR of new money brought in.
Share split :
Before the capital increase, the 18,600 existing shares will be replaced so that there will be 2,000,000 shares; 2,000,000 EUR representing the value of the company before the capital increase, expressed in EUR. This does not affect the present and future allocation of shares.
The table below indicates the distribution of the shares of the company following this capital increase on the basis of the following assumptions:
- MyMicroInvest Finance will subscribe the minimum amount of 50,000 EUR;
- The other investors, will subscribe the minimum amount that is allotted them, i.e. 100,000 EUR.
The table below presents the percentages of the capital held by the ViviDoctor SPRL account of MyMicroInvest Finance depending on the results of the Notes issue (i.e., a minimum of 50,000 EUR and maximum of 99,900 EUR) and the minimum and maximum amounts contributed by the other investors (i.e., a minimum of 100,000 EUR and a maximum of 700,000 EUR).
3. Convertibles and estimated dilution
Vividoctor subscribed to a 50,000 EUR convertible loan on the 16-06-17. The related interest rate is of 2.5% per year and the conversion date is variable, with a conditional limit date on the 15-06-21. At the date of the campaign launch, a second 50,000 EUR convertible, with the same parameters, is being finalised with another investor.
In order to have a complete view, the table below indicates the share distribution of Vividoctor on a fully-diluted basis, taking into account the following assumptions:
- Minimum amount invested by the crowd (50,000 EUR)
- Minimum amount invested by the co-investor (100,000 EUR)
- Estimated start date of the second convertible: 31-08-17
- The conversion of both convertible will occur on 15-06-21
- The interest due at the date of conversion will be included in the conversion
- The valuation taken into account for the conversion is 1,500,000 EUR
The table below presents the percentages of the capital held by the Vividoctor SPRL account of MyMicroInvest Finance depending on the results of the Notes issue (i.e., a minimum of 50,000 EUR and maximum of 99,900 EUR) and the minimum and maximum amounts contributed by the other investors (i.e., a minimum of 100,000 EUR and a maximum of 700,000 EUR), this time taking into account the dilution related to the exercise of the two convertible loans:
4. Other investment conditions
The following investment conditions have been imposed by MyMicroInvest:
- One single co-investor of 100,000 EUR or two co-investors contributing 50,000 EUR, at the same conditions as the crowd.
This co-investor cannot be a party to a current financing contract.
- Reach a total amount raised (in equity or debt/convertible) of 400,000€, in order to have enough resources to last until Dec 2018, according to the financial plan. The amount raised should not be used to reimburse the debts of the company.