Secondary deal
For a secondary deal where Kristal.AI would directly hold the shares of the company on the investors’ behalf, the typical investment process would be as follows:
It might help to note that there may be scenarios when the Right Of First Refusal (ROFR) may not be applicable.
Secondary deal through a third party structure
For a secondary deal where Kristal.AI would indirectly (i.e. through a third-party fund or SPV) hold the shares of the company on the investors’ behalf, the typical investment process would be as follows:
It might help to note that there may be scenarios when the ROFR may be applicable as the respective fund may be in the process of acquiring shares and does not already hold the shares.
Primary deal
For a primary deal where Kristal.AI would directly invest in the company on behalf of investors, the typical investment process would be as follows:
Primary deal through a third party structure
For a primary deal where Kristal.AI would invest indirectly (i.e. through a third-party fund or SPV) into the company on behalf of investors the typical investment process would be as follows:
