Challenge
Circulix helps customers in the textile industry to improve the circularity of their products. A spin-off model had to be defined for the client that would be financially attractive to future founders and investors.
Implementation
Different spin-off models were discussed with the customer and compared via cap table calculation. Key terms were defined that benefit the corporate partner, founders and future investors.
Result
The decision was made in favor of a founder first (minority shareholding) model. Founders were hired and invested in the company via shares. The project was financed by a convertible loan. It is planned that future investors will participate in the company via a capital increase.