> ## Documentation Index
> Fetch the complete documentation index at: https://docs.gocenti.com/llms.txt
> Use this file to discover all available pages before exploring further.
# Repurchases
> Create and manage repurchase offers in Centi to buy back securities from stakeholders, with flexible pricing using market valuation or cost basis.
A repurchase in Centi records the buyback of securities from a stakeholder — the selling party transfers their holdings back to the organisation, and Centi tracks the signing, payment, and registration steps through to completion. You create a repurchase as a draft, select the seller and buyer, configure which securities are being bought back and at what price, and then manage each step of the process on the Repurchases page.
## Navigate to create a repurchase
In the Fund Portal sidebar, navigate to repurchases.
Click **Create repurchase**. The repurchase creation modal opens.
## Configure the repurchase
### 1. Select buyer and seller
Use the **Seller** dropdown to choose the stakeholder who is selling their securities. Use the **Buyer** dropdown to select the entity that will acquire the securities.
### 2. Select a program and leaver envelope
After selecting a seller, Centi loads the seller's current holdings across all programs in the organisation. For each program:
* Review the seller's **ownership** — the number of units they hold per security class.
* Select a **leaver envelope** from the dropdown. If no leaver envelope is available, you must first add one in the **Templates** page before you can proceed.
If the seller has holdings in multiple programs that share the same leaver envelope, Centi groups those programs under a single repurchase entry. If your organisation has multiple programs with *different* leaver envelopes, multiple repurchases will be created.
### 3. Enter securities and pricing
For each security included in the repurchase, enter the **number of units** being bought back and the **price per unit**.
Centi displays reference pricing information to help you determine the correct price:
| Pricing reference | Description |
| ------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Purchase price (cost basis)** | The weighted average price per unit at which the seller originally acquired the securities, based on previous transactions |
| **Latest valuation** | The most recent valuation price per unit recorded in Centi, along with the valuation date |
| **Accrued price** (preference shares only) | For preference shares with an interest rate, you can calculate the accrued value by picking a custom date — Centi computes the compound interest value up to that date |
You can repurchase a partial quantity — enter fewer units than the seller's total holding. Centi shows a running total of units selected versus units available, and calculates the total repurchase amount as you type.
If the seller acquired the same security at multiple dates, the purchase price displayed is a weighted average across all acquisition batches.
### 4. Set signing and payment deadlines
After entering the securities details, configure the repurchase deadlines:
* **Signing deadline** — The date by which the leaver envelope must be signed.
* **Payment deadline** — Required for any repurchase with a non-zero amount that is not fully financed by a loan. Choose when payment is due:
| Payment timing | Description |
| ----------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Before registration** | Payment must be received before the repurchase is registered in the share register. Optionally set a specific date. |
| **After registration** | Payment is deferred until after registration. Choose either **In connection with exit** (payment linked to a future exit event) or **Other date** (a specific future date). |
### 5. Review the registration process
Once you have entered security details and set a payment deadline, the **Process** section updates to show the sequence of steps for completing the repurchase: bank details confirmation (where payment is required), signing, payment, and registration. This preview helps you understand what will happen after the draft is created.
### 6. Create the draft repurchase
Click **Create draft repurchase**. Centi saves the repurchase with **Pending** status and it appears on the **Repurchases** tab of the organisation page.
## View repurchase details
To open the detail panel for a repurchase, click its row in the repurchases table. The detail panel shows:
* The seller and buyer
* The securities being repurchased, with units and price per unit
* The total repurchase amount
* Current status indicators for each step: **Bank details**, **Signature**, **Payment**, and **Registration**
* Signing and payment deadlines
* Any loan note configuration (if a loan note template is attached to the leaver envelope)
### Signature status
| Status | Meaning |
| ------------------------ | -------------------------------------------------------------------------------------------------------- |
| **Not ready** | Bank details have not yet been confirmed (for repurchases where payment is required before registration) |
| **Ready for investor** | Bank details are confirmed; documents are ready to send to the seller for signing |
| **Investor pending** | The seller has been sent the documents and has not yet signed |
| **Witness pending** | The seller has signed; a witness signature is required |
| **Witness declined** | The witness declined to sign |
| **Ready for counter** | The seller and any witness have signed; the envelope is ready to be counter signed |
| **Counter pending** | The counter-signatory has been sent the documents and has not yet signed |
| **Fully signed** | All required parties have signed |
| **Declined by investor** | The seller declined to sign |
| **Declined by counter** | The counter-signatory declined to sign |
### Payment status
| Status | Meaning |
| ---------------- | ---------------------------------------------------------------------- |
| **N/A** | No payment required (zero-amount repurchase or fully financed by loan) |
| **Not ready** | Payment details have not been confirmed or signing is not complete |
| **Mark as paid** | All prerequisites are met; can mark the repurchase as paid |
| **Paid** | Payment has been marked as received |
## Register a repurchase
Once the repurchase is fully signed — and paid, where payment is required before registration — you can register it to record the securities movement in the share register.
Check that the **Signature** status shows **Fully signed** and, for repurchases with payment due before registration, that the **Payment** status shows **Paid**. If either prerequisite is not met, the registration action will not be available.
Select the repurchase and click **Register repurchase**. Centi records the buyback transaction in the share register and marks the repurchase as **Registered**.
For repurchases with deferred payment (payment due after registration), Centi allows registration before payment is marked. Remember to return to the repurchase and mark it as paid once the payment is completed — this keeps the payment status accurate for your records.
## Download draft agreements in bulk
On the **Repurchases** tab of the organisation page, click **Download draft agreements** (next to **Download report**) to bulk-generate the draft agreement documents for every active repurchase that has an envelope with at least one template attached. Centi renders each repurchase's documents from the envelope templates with the repurchase's data populated, packages them into a single ZIP archive, and downloads it in your browser.
Use this to review the final signing documents before sending repurchases out for signing, or to share a batch of drafts internally.
If none of the repurchases have a draft agreement available yet — for example, if no envelopes have templates attached — the download will fail with a message explaining that there are no downloadable draft agreements.
## Export repurchase data
To export repurchase records for reporting or reconciliation, use the export function on the **Repurchases** tab.
On the organisation page, select the **Repurchases** tab.
Click the **Export** button. Centi generates a spreadsheet containing all repurchase records for the organisation, including seller, buyer, securities, units, price per unit, total amount, deadlines, and current status.