--- title: "How to complete your Debut Sessions ASA on SeedLegals" id: "7948" type: "post" slug: "how-to-complete-your-debut-sessions-asa-on-seedlegals" published_at: "2021-04-04T23:20:19+00:00" modified_at: "2021-04-05T01:20:19+00:00" url: "https://seedlegals.com/resources/how-to-complete-your-debut-sessions-asa-on-seedlegals/" markdown_url: "https://seedlegals.com/resources/how-to-complete-your-debut-sessions-asa-on-seedlegals.md" excerpt: "You know how on Dragons’ Den the dragons bring a pile of money with them? Well, that doesn’t work on the internet, so we partnered with Ascension Ventures to create the online equivalent for the hugely popular Debut Sessions pitch..." taxonomy_category: - "Investor Hub" --- 2 min read # How to complete your Debut Sessions ASA on SeedLegals Published: Apr 5, 2021 [Anthony Rose](https://seedlegals.com/resources/author/anthony/) You know how on *Dragons’ Den* the dragons bring a pile of money with them? Well, that doesn’t work on the internet, so we partnered with Ascension Ventures to create the online equivalent for the hugely popular Debut Sessions pitch event. We created a special version of an Advanced Subscription Agreement (we call it a SeedFAST) that #DSLive finalists and Ascension both sign before the event. - If you’re a winner, it commits you to taking Ascension’s investment, and allows them to make that investment instantly, as everything is already signed. - If you’re not a winner, no problem, the agreement just lapses. The agreement also lets you raise additional money, beyond Ascension’s investment, in fact it encourages you to do so. And of course we’ll help you sort all that on SeedLegals super-easily and efficiently. So that you can take part in #DSLive, we need to make sure that the document you create is exactly the agreement that Ascension is expecting to see. Here’s a quick guide that will help you make all the right choices as you go over the Key Terms of the deal. You will have seen from the template published by Ascension that there will be specific requirements in relation to the size and dilution of your next funding round, don’t worry if anything in this guide that does not match that template. If you follow these steps, all the necessary wording will be there. 1. create your company on SeedLegals. 2. select **Funding** in the left menu. 3. click to create a new **SeedFAST** 4. in **How much are you raising?** enter £100,000 5. click to add an investor, search for **MNL (Ascension) Nominees** 6. select **SEIS** as the investment type Great, your SeedFAST is created! Next, configure the deal terms for your SeedFAST. Go to **Key Terms**, and for each for these questions, select the corresponding choice: | Question | Select… | | --- | --- | | Multiple SeedFASTs | No | | Valuation | A variable valuation, based on the next round | | Discount | 0% | | Cap | No | | Longstop Valuation | £1,000,000 | | Conversion in next round | An amount raised in a new round, excluding all SeedFASTs | | New funding round amount | £250,000 | | Conversion share class | The best available share class in the new round | | Longstop Date | A specific date, set to 63 days after your #DSLive event | | Bank account details | Enter your company’s bank details | | Add specific wording for… | Ascension Ventures Debut Sessions | | Warranties | Yes | | Allow a down round? | Yes | | Major Investor Rights? | No | | Most Favoured Nation? | No | | Add standard investor disclaimer wording? | No | | US investor? | No | | Any additional provisions to add to this agreement? | Leave blank | | Add an explanatory cover page? | No | Amazing, you’ve just created the agreement that will allow Ascension to instantly invest in your company if you’re a #DSLive winner. Four more things for you to do: 1. Hit the web chat button, let us know you’re done creating it, and **we’ll unlock it for you** (you’ll only pay us for the legals if the investment goes ahead, otherwise there’s no charge). 2. Carefully **read the agreement**, of course! 3. **Sign it** 4. Click to**share it** with the Ascension Ventures signatories. Anything you need – help, questions, strategic advice, pitching help, whatever, just hit the web chat button, we’re here to help! #### Anthony Rose Serial entrepreneur and startup champion, Anthony is our CEO and Co-Founder. [Read more](https://seedlegals.com/resources/author/anthony/) [https://www.linkedin.com/in/anrose/](https://www.linkedin.com/in/anrose/) ## Related posts [3 min read The SeedLegals Qualified badge: the faster way to identify investment-ready startups Have you seen the SeedLegals Qualified badge on some of the pitches that come across your screen? Here’s what the badge ... 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