Offer lifecycle
Every offer moves through the following states:| Status | Meaning |
|---|---|
| Draft | The offer has been created as a draft and has not been sent to the investor yet |
| Active | The offer has been activated and sent to the investor |
| Subscribed | The offer has been subscribed to |
| Declined | The investor declined the offer |
| Signed | All required parties have signed the DocuSign envelope |
| Paid | The offer has been marked as paid |
| Registered | The offer has been completed and share register is updated |
Create a single offer
Navigate to the program
In the Fund Portal sidebar, open Programs and select the program you want to create the offer under.
Open the Create menu
Select Create in the top-right area of the program page, then choose Offer from the dropdown.
Select seller
Select the seller or leave empty if you want to issue shares from the program company.
Select a stakeholder
Choose the stakeholder who will receive the offer from the Stakeholder dropdown. This is the investor who will subscribe to the securities. If they don’t yet exist you can add a new stakeholder.
Select securities
Choose which securities from the program the investor is being offered. Each offer must include at least one security with a defined quantity and price per unit.
Set the issue type (if issuing new shares)
Select how the securities are being issued:
| Issue type | Description |
|---|---|
| Cash issue | Securities issued in exchange for a cash payment |
| Issue in kind | Securities issued in exchange for non-cash consideration |
| Set off issue | Securities issued through debt conversion or offset arrangement |
Set the subscription choice
Choose how the investor will specify their subscription amount. The options available depend on how many securities are included in the offer:
| Subscription choice | Description |
|---|---|
| Amount | The investor subscribes by entering a currency amount; Centi calculates the resulting number of units. Available when the offer includes one or two securities. |
| Amount (strict ratio) | The investor enters a total amount that must maintain the ratio between the two securities. Available when the offer includes exactly two securities. |
| Yes/No | The investor can only accept or decline the full offer as presented — no partial amounts. |
| Tiers | The investor can choose from predefined percentage levels of the offered amount. |
Enter price per unit and deadline
Enter the Price per unit for each security included in the offer. Set a Subscription deadline — the date by which the investor must respond before the offer expires.
Create offers in bulk from a spreadsheet
When you need to invite many investors at once, use the bulk offer import to create multiple draft offers from a single XLSX file.Navigate to bulk offer creation
From the program page, select Create → Bulk offers. The three-step bulk creation wizard opens.
Download the template and upload your file
On the Upload XLSX step, click Download template to get the pre-formatted spreadsheet for this program. Fill in one row per investor, with the investor’s name, email address, and the number of units (and price per unit) for each security in the program. When your file is ready, drag it onto the upload area or click Choose template file to select it.
Review and validate the data
On the Review step, Centi parses the file and displays all rows. For each investor row, Centi attempts to match the email address to an existing stakeholder in your organisation. Each row shows one of three match statuses:
- Existing — the email matched an existing stakeholder record.
- New — no existing stakeholder was found; one will be created.
- Review — a stakeholder with that email exists but the name in the file does not match. Click the row to open the edit panel and confirm whether to use the existing record or update it.
Configure offer settings
On the Offer Settings step, apply settings that will be used for all offers created from the file.The settings are the same as for when creating single offerThese settings apply uniformly to every offer in the batch. You can edit individual offers from the Drafts tab after creation.
Bulk-created offers are always saved as drafts. Review each offer on the Drafts tab and make any corrections before activating them.
Invite to subscribe
Inviting to subscribe sends an email notification to the investor about their new offer and they can then log in to the Investor Portal to subscribe or decline the offer.Go to Drafts tab in program page
On the drafts page, and select the offers you want to send to investors
Subscription
You can now track the progress of subscription in the program page. If the investor choses to Decline this will be visible here. If you want to mark it as declined on their behalf you can do so by clicking on the offer to open the offer detail view where you can press Decline on behalf of investor.DocuSign signing workflow
After you send an offer for signing, Centi sends a DocuSign envelope to the investor. The signing workflow proceeds as follows:- Investor receives the envelope — The investor receives an email from DocuSign with a link to review and sign the subscription documents.
- Investor signs — The investor reviews the offer terms and applies their signature in DocuSign.
- Witness signing (if applicable) — If the envelope requires a witness, the witness receives a separate signing request after the investor signs.
- Counter-signature — If your organisation requires a counter-signatory, after the investor has signed you can send it out for counter signature. To reduce the number of Docusign envelopes the counter signatories need to sign we recommend waiting for all investor signatures and then send all offers for counter signing at the same time. Due to a limitation in Docusign there is a limit of around 70 offers in one counter signing envelope, this means that if you have a lot of offers you will receive multiple counter signing envelopes.
- Fully signed — Once all required signatories have completed their signatures, Centi marks the offer as Signed and the offer becomes eligible for registration after it has been marked as Paid.
Immediately after sending out offers for signing, the offer may briefly show a transitional state while DocuSign prepares and dispatches the envelopes. This resolves automatically once DocuSign has sent the signing request to the investor. The time it takes to send out the envelopes is dependent on limitations in the DocuSign API.
Register an offer
Once an offer is Signed and Paid, you can settle it to register the resulting securities transaction in the share register.Select the offer
Navigate to the Sign & Pay tab of the program and select the offers you want to register.
Registration updates the share register and cap table. As with all transactions, the share register reflects the change overnight. If you need an updated share register immediately, contact operations@gocenti.com.