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Create a New Class

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Learn how to create a new Class in Athennian. Setting up a Class is the initial step required before issuing Securities.

Overview

Creating a Class involves defining its fundamental characteristics, restrictions, and certificate details. This process ensures that Securities issued under that Class adhere to the specified parameters.

Create a Class

  1. From an Entity record, navigate to the Securities tab and select Classes available on the left side

  2. On the top right corner of the screen, click the + New button

  3. Select New Class from the dropdown options

Class Modal Sections

In the Class modal, select the applicable Status using the dropdown on the top right corner (it defaults to Confirmed) and fill in the following sections: Settings, Restrictions, and Certificate.

Settings

  • Capital Type (Shares, Cash, & Percentage)

    • Note: For LLC or Partnership Entity Types, Share will be replaced by Units

  • Created Date

  • Removal Date (if the Class status is set to Inactive)
    • Note: Any dates entered manually must be formatted as follows: YYYY-MM-DD
  • Class Name
  • Certificate Code

    • The asterisk (*) will be replaced with the next number sequence when issuing Certificates

  • Authorized Amount

    • Check the Unlimited box, if applicable

  • Vote Per Share

    • Check the Has voting rights box, if applicable

  • Parent Class

    • Check the Class is a Series box, if applicable, then select the respective Parent Class in the dropdown

  • Any other relevant information as required (Option Code, Warrant Code, Par Value, and Currency)

Restrictions

  • Restrictions (Has Special Rights/Restrictions)

  • Redemptions (Has Convertable, Retractable, Redeemable)

    • Redemption Price

    • Currency

    • Redemption Description

  • Transfer Restrictions (Tag along, Drag along, Right of first refusal, Vesting, Other)

  • Dividend (No dividends, Allow Share dividends, Participating, Others)

  • Special Rights (Participating upon dissolution, Lien)

Certificate

  • Certificate Template

  • Certificate Color

  • Legend

  • Share Terms
    • Click + Add to add any

5. Click Create at the bottom right corner of the modal once all information for Settings, Restrictions, and Certificate is entered.

Video Instructions: