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amended-restated-certificate

Drafts a Delaware Amended and Restated Certificate of Incorporation implementing VC term sheet economics and governance into DGCL-compliant charter provisions. Use when drafting or revising a Delaware A&R certificate, preferred stock charter terms, Series Seed/A/B financing charter, blank check preferred authority, or implementing cap structure from a term sheet or SPA.

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Amended and Restated Certificate of Incorporation (DE)

Filing-ready Delaware A&R charter implementing VC financing economics and governance. Produces Articles I–VI with preferred stock rights, conversion, anti-dilution, liquidation preferences, and protective provisions.

Prerequisites

Before drafting, collect:

  • Executed term sheet or SPA exhibits (final economics and governance)
  • Current cap table (outstanding, reserved, convertible securities)
  • Existing certificate of incorporation and all amendments
  • Board/stockholder approval mechanics and thresholds
  • Registered agent name and Delaware registered office address
  • Series terms and designations for each preferred class
  • Side agreements affecting charter terms

Quick Start

  1. Build intake table — gather all fields below, verify math
  2. Draft Articles I–VI with consistent defined terms
  3. Insert preferred stock terms in Article V
  4. Add optional governance provisions only if negotiated
  5. Run verification checklist against source documents

Intake Table

FieldSourceNotes
Legal nameExisting charter, DE recordsMust match exactly
Registered agent + addressAgent confirmationDE county required
DGCL adoption pathBoard/stockholder actions242/245 [VERIFY]
Authorized CommonCap tableInclude reserves
Authorized PreferredTerm sheetBy series
Par valueExisting charterCommon + Preferred
Series designation(s)Term sheete.g., Series A
OIP per shareTerm sheetFor conversion/dividends
Liquidation preferenceTerm sheetMultiple + priority
DividendsTerm sheetCum/non-cum
Anti-dilutionTerm sheetBroad-based WA typical
Protective provisionsTerm sheetThresholds
Board compositionVoting agreement or charterIf in charter only

Capitalization Math

Verify before drafting:

  • Authorized Common >= outstanding + option pool + conversion reserve + warrants/options + cushion
  • Authorized Preferred >= issued + reserved + anti-dilution cushion + blank-check allocation
  • Series totals sum exactly to Preferred authorization
  • All price/share figures reconcile to valuation and investment amount

Article Structure

ArticleContent
ICorporate name (DGCL 102(a)(1) [VERIFY])
IIRegistered office, county, registered agent
IIIBroad corporate purpose clause
IVAuthorized capital, classes, par value, series designations
VPreferred Stock rights and preferences (see below)
VIDirector liability limitation (DGCL 102(b)(7) [VERIFY])

Article V Sections

SectionMinimum Terms
DefinitionsOriginal Issue Price, Conversion Price, Liquidation Event
DividendsRate, cumulative/non-cumulative, priority
Liquidation PreferenceMultiple, priority, participation/cap
ConversionOptional + mandatory triggers
Anti-DilutionMethod, formula, exclusions
VotingAs-converted voting
Protective ProvisionsEnumerated actions + approval threshold
OptionalBoard designation rights (if in charter)

Anti-Dilution Formula (Broad-Based Weighted Average)

CP' = CP * (A + B) / (A + C)

CP = Conversion Price before issuance A = Common outstanding (fully diluted, as-converted) B = Consideration received / CP C = Shares issued in the dilutive issuance

Protective Provisions Checklist

Include approval requirements for:

  • Amend charter/bylaws adverse to Preferred
  • Create/authorize senior or pari passu classes
  • Increase/decrease authorized Common or Preferred
  • Declare dividends or distributions
  • Redeem or repurchase stock
  • Liquidation, dissolution, or winding up
  • Merge, recapitalize, or sell all/substantially all assets
  • Change board size or composition
  • Incur debt beyond approved thresholds
  • Exclusive license or disposition of material IP

Execution Block

IN WITNESS WHEREOF, the Corporation has caused this Amended and Restated Certificate of Incorporation to be executed by a duly authorized officer on this ___ day of ________, 20.


Name: Title:

Pitfalls and Checks

  • Use DGCL filing statements for amendment/restatement authority (242/245 [VERIFY]).
  • Single-source all definitions — no duplicates across sections.
  • Match every economic term to the term sheet and SPA exhibits. Never improvise.
  • Use precise share counts reconciled to cap table and option pool.
  • Include blank-check preferred only if consistent with protective provisions.
  • If a term is ambiguous or conflicting, stop and request clarification.
  • Optional governance provisions (indemnification, forum selection, written consent, special meetings) only if negotiated and consistent with bylaws.
  • Director exculpation must track DGCL 102(b)(7) and 174 carve-outs [VERIFY].
  • Delaware-specific — do not apply to other jurisdictions without redlining for local law.

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