When your company raises through Spring, only the percentage of the operating company agreed for the raise is placed into the investor structure — the remainder isn't tokenized and stays with the company's existing shareholders.
A dedicated legal vehicle (SPC cell) holds the agreed company shares on investors' behalf. The SPC appears as a single shareholder on your company's cap table, rather than every participating investor being added individually. This keeps the cap table clean and makes future fundraising, corporate administration, and a potential acquisition easier to manage.
The legal structure uses a Cayman foundation with a dedicated SPC (Segregated portfolio company) established in the Cayman Islands, chosen for its enforceability, international recognition, and well-established support for deed-poll arrangements. Each SPC's corporate assets and obligations are kept fully separate from those of every other company raising on Spring. The exact entity details are disclosed in the legal documents for each raise.
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