SAFE NOTE
CALCULATOR
Model how a SAFE converts to equity at a priced round — with cap and discount scenarios.
This is the percentage of the company the SAFE holder owns immediately after the priced round closes and the SAFE converts, at the cap or discount price, whichever is more favorable to the investor.
What this calculator does
A SAFE (Simple Agreement for Future Equity) converts to equity at a future priced round. This calculator shows you how many shares your SAFE converts to, at what price, and what percentage of the post-money cap table the SAFE holder will own — accounting for both valuation cap and discount rate mechanics.
Who uses it
Founders issuing SAFEs to angel investors or pre-seed funds. Investors evaluating a SAFE offer before signing. Advisors modeling dilution scenarios before a priced round.
What to do with the output
Use the converted share count and ownership percentage as inputs to your cap table model. If you are building a deal room on Lengdon, the SAFE terms attach directly to the deal record and flow into the diligence checklist automatically.
Key terms
Valuation cap: the maximum company valuation at which the SAFE converts, regardless of the actual round valuation. Discount rate: the percentage reduction on the per-share price the SAFE holder receives versus new investors. Post-money SAFE: the cap is calculated on the post-money valuation including the SAFE itself.
How to use this in a deal room
When you issue a SAFE through Lengdon, the calculated conversion terms attach to the deal record at the Brief stage. At close, the conversion is sealed into the record and referenced in the closing conditions — so every party has the same numbers at every stage, with no version confusion.
Related tools
SAFE terms agreed. Now use Lengdon to close the priced round with a permanent record.
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