The warrant for the Incubate program corresponds to up to 5 % of the shares for 12 months of participation in the program; 3 % for the first 6 months and 2% for the next 6 months.
The warrant for the Incubate Deeptech program corresponds to 6% of the shares for 24 months of participation in the program; 2% for the first 6 months, 2% for the next 6 months, and thereafter 1% for each of the following 6 month-segments. You can choose how long you want to participate in the program.
The warrant for the Accelerate program corresponds to 2 % of the shares for participation in the program.
The warrant (and the corresponding shares if Sting has exercised the warrant) will be diluted when you, the company, raises capital. When the company grows and the founders potentially sell the company, Sting also gets paid if Sting decides to sell the shares. If Sting does not subscribe for the shares from the warrants, a cash payment will be paid to Sting at of minimum of 5 000 EUR.
Funding from Propel Capital is separate from this warrant.