If you are conducting an equity financing on Shoobx, and your transaction documents have undergone significant changes, or new documents have been introduced that cannot be generated on Shoobx, rest assured that you can still utilize the Shoobx workflow. For these situations, we have added the ability to add additional contracts into the workflow and the ability to replace the body of the main transaction documents generated on Shoobx with uploaded versions.
This article will explain the process by which you can upload and track the execution of the additional documents alongside the other financing documents. It will also explain how to upload a new document body to replace the main transaction document(s) generated from our templates.
How To Manage Additional Contracts
Occasionally, financings will involve additional documents that are not generated through the Shoobx workflow. For instance, one of your investors might ask for a Side Letter - an agreement with special terms offered to them by the company that are not granted to other investors. If you would like to include this contract in the Equity Financing workflow on Shoobx, and arrange for it to be signed along with your other financing documents, you will can do so at the "Checkpoint" page in the workflow. There, you will notice a "Manage Additional Contracts" button on the left side of the Checkpoint screen.
Selecting this button will open a box that will allow you to upload and edit additional contracts. As seen below, to add a document, you'll select the "Add Contract" button on the bottom left hand side of the screen.
Clicking on the "Add Contract" button will open up a new box that will allow you to specify the necessary information related to the document being uploaded.
As you progress through the Equity Financing workflow, you will be able to view and track these documents in the same way that you will track the progress of the generative documents.
How To Replace Shoobx Generated Documents With Uploaded Versions
During the Equity Financing workflow, if there have been been significant changes to your financing documents, you will have the option to replace the documents generated via Shoobx templates with the body of the document as it has been edited outside of the platform.
For instance, if your Board Consent needs to include several provisions that are not part of the Shoobx-generated Board Consent (e.g. additional approvals for cleanup actions), you will have the option to "Replace Template With Uploaded Content" at the Checkpoint. This button can be found on the left side of the screen.
Once you have clicked this button, you can select which document you would like to replace. The options for doing so are shown in the screenshot below.
When you have identified which documents should be replaced, select the "Update" button. This will open up another box that will allow you to upload the applicable content.
After selecting the "Uploaded Document" option, the document generated by the Shoobx template will be replaced your content. As you progress through the Equity Financing workflow, you will be able to track these documents and have them signed electronically in the same way that you will track the progress of the generative documents.
Feel free to reach out to firstname.lastname@example.org if you have any additional questions about this process!