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Pre-seed / seed · Template 13 of 40

Advance Subscription Agreement (ASA)

Use it when taking early investment (especially SEIS/EIS) before a priced round.

  • About 4 pages
  • 15 drafting notes in the margin
  • 7 clauses
  • Word (.docx)
  • England and Wales

What is in it

  1. Definitions
  2. Payment of the Subscription Amount
  3. Conversion
  4. Exit, long-stop and liquidation
  5. Investor’s promises and confirmations
  6. Company’s promises
  7. General

Plus a schedule of the commercial details and signature blocks where the document needs them.

Read the opening

The first part of the template, as it reads in Word. Blanks are shown as lines; the drafting notes sit in the margin of the file.

ADVANCE SUBSCRIPTION AGREEMENT

This Agreement is made on ____________________ (the “Date”) between:

(1) ____________________ LTD, a company registered in England and Wales (registration number ____________) whose registered office is at ______________________________________________ (the “Company”); and

(2) ____________________, of ______________________________________________ (the “Investor”).

Background

(A) The Company is raising money to fund its business described in the Schedule.

(B) The Investor has agreed to pay the Subscription Amount to the Company in return for the right to receive ordinary shares in the Company on the terms of this Agreement.

1. Definitions

“Articles”: the Company’s articles of association.

“Business Day”: a day other than a Saturday, Sunday or public holiday in England.

How it works

  1. Pay by card. The download starts at once and the link keeps working.
  2. Open the Word file. Fill in the blanks, pick the options marked with boxes, read each note in the margin.
  3. Delete the notes and the notice box, then sign. Or send it to us for a fixed-fee check first.

Word template

£79 Instant download

One-off. No account needed. VAT not charged.

Or fill it in online (platform plan)
  • Drafted by a solicitor for England and Wales
  • Drafting notes explain every choice
  • Instant download, link works again later
  • £50 off a fixed-fee review once filled in (from £99)

Part of a pack

Seed round pack, £299

8 documents for raising your first outside money.

See the pack

Need more than one?

Complete template library, £299

All 40 documents, with the index and guide.