See Future Dilution Before It Happens with Notorio: Estimated Shares and Units for SAFEs and Notes

Notorio's cap table shows estimated shares and units for SAFEs, convertible notes, and custom notes in real time, so you can see potential dilution before it happens.

One of the hardest parts of managing a cap table is understanding what today’s fundraising decisions may do to tomorrow’s ownership.

A SAFE, convertible note, or custom note may not immediately appear as issued shares or units. But that does not mean it has no impact. Those instruments can still change the company’s fully diluted ownership picture later, sometimes in a way founders do not fully understand until a financing, investor review, or acquisition is already underway.

That is why Notorio’s cap table includes estimated shares and units for SAFEs, convertible notes, and custom notes.

Why This Feature Matters

A cap table should not only show what has already happened. It should also help you understand what could happen next.

Notorio’s estimated shares and units feature gives companies a real-time view of how outstanding SAFEs, notes, and custom instruments may affect ownership if they convert. Instead of waiting until a priced round or legal review to see the potential dilution, users can see the estimated impact directly in the cap table.

This helps companies avoid surprises like:

Founder ownership dropping more than expected
Investor percentages changing after conversion
Confusion over fully diluted ownership
Overlooking the impact of SAFEs or notes
Not having enough authorized shares or units
Discovering cap table problems during due diligence

For founders, this can be the difference between understanding the company’s ownership structure early and being caught off guard later.

Built for Real-Time Cap Table Visibility

Notorio estimates the number of shares or units that may result from SAFEs, convertible notes, and custom notes by using the company’s latest valuation and the company’s pre-conversion fully diluted ownership.

In plain English, the system looks at the company’s current ownership structure before estimated note or SAFE conversions, calculates an estimated price per share or unit, and then applies the relevant conversion terms.

That means users can see how instruments with valuation caps, discounts, or custom conversion terms may affect the cap table before the actual conversion happens.

Investor-Friendly Terms Are Reflected

SAFEs and notes often include terms designed to benefit early investors, such as valuation caps or discounts.

Those terms matter because they can change how many shares or units the investor receives. A lower conversion price usually means more shares or units for the investor, which means more dilution for others.

Notorio helps users understand that impact by estimating conversions based on the most favorable applicable conversion method for the investor.

Better Planning, Fewer Surprises

This feature is not just about numbers. It is about planning.

When estimated shares or units are visible in the cap table, founders and companies can make better decisions before issuing new instruments, raising additional capital, expanding an option pool, or preparing for a transaction.

It gives users a clearer picture of their fully diluted cap table and helps them identify potential issues earlier.

A More Complete Cap Table

A basic cap table may show issued shares or units.

A better cap table shows potential dilution.

Notorio’s estimated shares and units feature gives users a more complete view of their company’s ownership by showing how SAFEs, convertible notes, and custom notes may affect the fully diluted cap table in real time.

For growing companies, that visibility matters. It helps founders stay organized, avoid preventable mistakes, and understand ownership before important decisions are made.