Stages of a SAFE & Convertible Note Offer
Track your SAFE and Convertible Note offers through each stage of the signing and payment process. Here's what each status means and what happens next.
Stage overview
New offers start as Ready to invite. After clicking Invite and confirming the details, the offer moves through the following stages:
Stage | What it means | Action required |
|---|---|---|
Ready to invite | Offer created, not yet sent | Click Invite to send to the investor |
Waiting for stakeholder to confirm | Investor hasn't started yet | Investor confirms the investment |
Waiting for stakeholder details | Investor adds their contact and entity info | Investor completes their details |
Waiting for contract | Details complete, contract not yet generated | Investor clicks Sign contract to generate the agreement |
Waiting for signatures | Contract generated, not yet signed | Track all signatories via Documents → Pending signatures |
Waiting for payment | Document signed, payment pending | Investor transfers funds using the bank details in the Offers tab. Admin clicks Mark as paid once funds arrive |
Pending note issuance | Payment confirmed | Admin clicks Issue to complete the process |
After sending the invite
When you click Invite, Cake walks you through a confirmation screen:
Review and confirm the investor's contact information.
Optionally include bank transfer details for payment.
Review your board members and nominated signatories who will execute on behalf of the company.
Confirm to send, this triggers the invitation email to the investor.
What the investor sees
Investors receive an email invitation and see a progress bar in their My Cake portal guiding them through each step, from confirming their details, to signing the contract, to transferring payment.
Issued offline
If you selected Issue offline instead of Invite, the SAFE/Convertible skips the signing stages and is recorded directly as issued in Cake.