Glassboard Overview for Deal Organizers

Providing an affordable, transparent solution so you can focus on building relationships and doing more deals. 

Glassboard is an innovative software platform for managing the life cycle of your Assure Special Purpose Vehicle (SPV). With Glassboard, you have the ability to oversee your SPV from deal creation, to funding, to closing - and it is simple and seamless for your investors to participate. The below is overview on how to use Glassboard to run your next deal.

Please also make sure to check out our video series.

Create your Glassboard Account 

As a Deal Organizer, you will first be prompted to create your Glassboard account. Please note: you may create multiple profiles for different purposes from the same Glassboard account.

 

After you create your account, you'll be asked to agree to the Terms of Use and the Privacy Policy.

Create your Organizer Profile

After you have created your Glassboard account, the first step is to create your Organizer profile. You will be asked to select whether you would like to operate your deal as an Individual or an Entity.  

You can create multiple profiles if you wish.

Start a new deal

Once you've created your first Organizer profile, you can create a new deal immediately.

 

Alternatively, you can create a new deal by selecting New from the main Deals page.

 

You'll be prompted to select which Organizer profile you'd like to use for your deal, and then you will Enter deal details to get started.

 

 

There will be three steps to creating your deal.

  1. Enter deal details
  2. Generate documents
  3. Invite investors

Enter deal details

Enter the name of your deal. Please note that using Assure Labs, the legal name of the entity will be pre-populated automatically, and a bank account will automatically be opened to collect the funds.

You can add a logo to represent your deal, add a description, and enter the details of the raise amount, minimum investment required from your investors, carry percentage, and estimated close date for your deal. 

You can opt to take a management fee if you choose, and that amount will be taken out of the raise amount at the closing of the deal.

Note: at Assure, a close is defined as the process of sending funds to the target asset or portfolio company.  

 

These details are used to generate the legal documents for your Assure Labs SPV. When you are ready, select Generate Documents.

Generate Documents

There are three legal fund documents that will be generated automatically on Glassboard. They take only a few seconds to create. The documents are: the Operating Agreement, the Private Placement Memorandum and the Subscription Agreement.

If you like, you can also upload other documents for your potential investors to review, such as a pitch deck or other marketing materials.

 

After documents have been approved by you, you are ready to Invite Investors.

Invite Investors

It's now time to invite your network to participate in your deal. If you wish, you can invite yourself, as the organizer, to invest. You will be inviting investors by email.

 

You can preview or customize the invitation email as you like. Your investors will be invited to create a Glassboard account directly from the email invitation.

And you're done! 

Deal Dashboard

Now, it's time to monitor the subscription progress for your deal from the Deal Dashboard, where you can access all of the deals you've organized. From the dashboard, you can review information such as the target amount, the total raised to-date, the status and number of your investors and more. Click on a deal card for more detail and to make any changes necessary.

Deal Details

From the deal details screen, you can review all of the information regarding your deal status, target close date, the entity and regulatory information and the banking information. You can also invite more investors from this page, and add information regarding the target asset or portfolio company.

 

When adding an asset, you can chose to Company, Fund or Real Estate Property.

 

Carry & Management Fees

Your may adjust the carry percentage at anytime through the deal process, as this information is not contained in the legal documents. Please note, however, that the maximum carry amount is communicated as 20 percent.

 

Transactions

The transaction page is where you will monitor all wires coming into the bank account for your Assure SPV.  

This is also where you can enter the details for the wire transfer to the beneficiary - the portfolio company or target asset - in advance of closing your deal.

 

KYC/AML

KYC stands for Know Your Customer, and AML stands for Anti-Money Laundering. Glassboard will automatically run standard checks against known databases to verify the identity of investors and to confirm investors are not on lists of known criminals or "bad actors."

To ensure there are no delays in your deal, please ensure all parties promptly provide necessary identification information for KYC/AML

  • Yourself, the Deal Organizer, when you create a new deal on Glassboard
  • The investor, when they subscribe to a deal
  • The portfolio company or target asset, when it's time to fund the transaction

    Closing your deal

    Congratulations, now that all of your investors have subscribed, it's finally time to wire the funds to the portfolio company or target asset!

    There are four requirements that must be passed in order to close your deal.

    1. The closing balance on your closing statement is positive
      1. The Assure fee and Blue Sky fees will be automatically deducted 
    2. All fund documents have been signed
    3. All investors have passed KYC/AML verification
    4. A purchase agreement for the target asset is uploaded to Glassboard

     

    To close your investors into the deal, click on Investors > Deal closing.

    If your closing statement has not reconciled to zero, you can view your closing statement for more detail.

     

    When ready, select Close your investors into deal. 

    At this point, you will be warned that no changes can be made to the deal, including carry percentages. Select, Proceed to deal close process.

     

     

    It is now time to initiate the outbound wire transfer to the beneficiary; the portfolio company or target asset. 

     

    Congratulations!

    You have closed your deal. Please allow up to 24 hours for the Assure team to review the legal documents and confirm the wire instructions with the beneficiary and with yourself.

     

    For questions and general support, please browse the Glassboard Help Center or chat with us live using the launcher on the bottom right corner of your screen!