The SPC enters into a deed poll defining its obligations to eligible holders of the company token issued by Spring SPC.
The deed poll documents what token holders may receive if a qualifying event occurs — for example, if the company is sold, completes a public listing, or distributes proceeds covered by the agreement. This is the equity-backed link between the shares held by the SPC cell and the tokens issued to investors.
Holding a token gives you an equity-backed claim equal to your share of the SPC's cell holding in the company, documented through the deed poll — rather than making you a shareholder of the operating company directly. Eligible token holders receive their share of proceeds when a qualifying event occurs, subject to identity verification at that time.
Importantly, the token itself carries no governance rights over the company — your legal rights run through the deed poll, not the token, and (as covered below) investor governance is scoped only to that round's escrow, not to how you run the business.
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