Pulley migration · Delaware C-Corp

Pulley for Delaware C-Corp YC-backed: a controlled migration plan

Pulley for Delaware C-Corp YC-backed teams is a controlled record transfer: preserve the source files, map every SAFE and round term to the signed instrument, and keep Delaware charter and approval data connected to the live ownership table.

Delaware C-Corpentity record
YC-backedcompany cohort
SAFE termsreview unit
The short answer

Use the export as a starting point, not final proof. Reconcile SAFE caps, discounts, MFN and pro-rata terms, funding status, authorized and issued shares, board approvals, vesting, and investor-access decisions before the new table becomes operational.

01 — Segment-specific migration plan

Keep the records that explain the ownership.

Every page in this controlled cluster uses the same migration discipline. The records and checks below are specific to Delaware C-Corp companies at the YC-backed stage.

Segment module 1

Pulley export to a reviewed Lovie import

Pulley's official help article documents three cap-table export paths: Dashboard, Cap Table, and Company > Reports; it supports all-time exports and exports as of a selected date.

Lovie publicly supports PDF/XLSX imports, AI extraction of stakeholders, SAFEs, and rounds, and a review-before-write workflow rather than silently creating records.

Make the Delaware-specific acceptance checklist reconcile legal entity name, stakeholder identity, security class, issued/reserved shares, vesting, and executed documents before go-live; this turns a generic import pitch into a migration control process.

Pulley's official notice currently warns of its 8 December 2026 shutdown, making export timing a practical part of the page's buyer intent rather than a generic feature claim.

Sources: Pulley Help Center — Download an excel of the cap table, Pulley — FAQ: What is happening with Pulley’s shutdown, Lovie — Lovie CapTable product overview

Segment module 2

YC SAFE conversion and dilution review

YC defines a SAFE as a contract in which an investor funds the company now for the right to receive stock later, with automatic conversion in a priced round.

YC explains that a post-money valuation cap makes the ownership sold calculable from amount raised divided by the cap, subject to the instrument's terms.

Lovie says every stakeholder, SAFE, and round can be stored as a record and that financing scenarios and dilution can be modeled on the same table.

The module should require review of cap, discount, MFN, pro-rata, conversion, and funding-status fields against each executed agreement; it should not present a simplified calculator as legal conversion advice.

Sources: Y Combinator — The SAFE financing documents, Lovie — Lovie CapTable product overview

Segment module 3

Delaware C-Corp record continuity

Delaware's official guidance says a corporation's certificate includes the entity name, registered agent, incorporator, authorized shares, and par value.

Delaware requires every legal entity to maintain a registered agent and says corporations have continuing annual-report and franchise-tax obligations after formation.

Delaware explicitly advises careful decisions about governance and capital structure and consultation with qualified experts; a software migration does not replace those records or approvals.

The page should connect the migration checklist to the charter, board consents, option-plan records, and state-maintenance records rather than teaching Delaware incorporation from scratch.

Sources: State of Delaware — Forming a Delaware Corporation

Segment module 4

Investor-ready handoff and scoped access

The SEC says investors expect a cap table that clearly reflects ownership interests and recommends having financial statements and experienced attorneys or accountants ready for a raise.

The SEC glossary defines a cap table as naming holders of securities such as common stock, preferred stock, convertible notes, and warrants, with related class, quantity, purchase-price, and transaction-date information.

Lovie advertises scoped sharing for founders, investors, and lawyers, an audit-event surface, signed-document workflows, and an AI/MCP query layer over the live table.

A useful module can give a Delaware YC-backed team a sign-off pack: source export, document archive, reconciliation exceptions, counsel review, investor access decision, and final snapshot.

Sources: U.S. Securities and Exchange Commission — Ready to Raise CAPITAL, U.S. Securities and Exchange Commission — Glossary: Capitalization Table, Lovie — Lovie CapTable product overview

02 — Illustrative cap table

Delaware C-Corp · YC-backed ownership scenario

Illustrative only: not market data, a forecast, or legal/tax advice. A simplified Delaware C-Corp has a 10,000,000-unit pre-SAFE base and two post-money SAFEs. The example is designed to show a reviewable ownership calculation, not to predict a real conversion.

Illustration, not a benchmark.The figures below are assumptions for explaining the arithmetic. They are not market averages, legal advice, tax advice, or a forecast of your financing.

Swipe horizontally to review every scenario column.

Delaware C-Corp · YC-backed ownership scenario
InputValueWhy it is here
Pre-SAFE basefounder common 8,000,000 units and an unallocated option pool of 2,000,000 units, a 80%/20% split of the 10,000,000-unit base.Illustrative input used only for this scenario.
Post-money SAFE A$250,000 invested at a $5,000,000 post-money valuation cap.Illustrative input used only for this scenario.
Post-money SAFE B$500,000 invested at a $10,000,000 post-money valuation cap.Illustrative input used only for this scenario.
Input 4For this simplified illustration only, each SAFE has no discount, MFN, pro-rata right, interest, or other conversion adjustment.Illustrative input used only for this scenario.

SAFE A ownership proxy = $250,000 / $5,000,000 = 5.0%. SAFE B ownership proxy = $500,000 / $10,000,000 = 5.0%. Combined SAFE allocation = 10.0%, leaving 90.0% for the pre-SAFE base. Founder = 80% x 90% = 72%; option pool = 20% x 90% = 18%. On a normalized 10,000,000-unit post-SAFE view: founder 7,200,000 + pool 1,800,000 + SAFE A 500,000 + SAFE B 500,000 = 10,000,000 units.

Illustrative ownership after the simplified SAFEs: founder 72%, option pool 18%, SAFE A 5%, SAFE B 5%; total 100%. A migration page should show this as a scenario to reconcile against signed documents and counsel-approved conversion logic, not as a promised result.
Show scenario assumptions
  • Each post-money SAFE percentage is treated as additive and independent for this teaching example; real instruments and round mechanics can interact.
  • No priced-round share price, discount, MFN, pro-rata, option-pool shuffle, convertible note, warrant, accrued interest, or other security is included.
  • The option pool is shown as a reserved base percentage, not a statement about hiring plans or market practice.
  • Actual ownership, tax treatment, securities-law compliance, board approvals, 409A consequences, and document interpretation require qualified legal and tax professionals.
03 — Reconciliation checklist

Check the segment assumptions before you save.

A clean import can still be incomplete. Compare the extracted table with the documents and approvals that created these entries.

  • Review “Pulley export to a reviewed Lovie import” against the source export and governing documents.
  • Review “YC SAFE conversion and dilution review” against the source export and governing documents.
  • Review “Delaware C-Corp record continuity” against the source export and governing documents.
  • Review “Investor-ready handoff and scoped access” against the source export and governing documents.
05 — Delaware C-Corp · YC-backed FAQ

Questions that change for this company.

Is this a formation page or a Pulley migration page?

It should be a migration page. The visitor already has a company and needs to export, reconstruct, review, and operate an existing table in Lovie; it should not repeat a Delaware incorporation tutorial. Lovie supports starting with an existing PDF/XLSX or with a blank table, while Delaware's formation guide is better used as a supporting reference for record checks.

Sources: Lovie — Lovie CapTable product overview, State of Delaware — Forming a Delaware Corporation

What should I export from Pulley before switching?

Use Pulley's documented Dashboard, Cap Table, or Company > Reports paths, and take both an all-time export and a dated snapshot when useful for reconciliation. Preserve stakeholder data and separately archive executed SAFEs, notes, grants, board approvals, and valuation reports in a secure data room; the Pulley article specifically documents the cap-table export, so treat document preservation as a separate migration control. Because Pulley's official notice currently announces an 8 December 2026 shutdown, do not make the export the last step.

Sources: Pulley Help Center — Download an excel of the cap table, Pulley — FAQ: What is happening with Pulley’s shutdown

Can Lovie handle YC SAFEs and a new financing scenario?

Lovie publicly describes each SAFE and round as a structured record, PDF/XLSX extraction, dilution and financing-round modeling, and review before anything is written. YC defines a SAFE and explains post-money-cap mechanics. That does not make the software a legal conversion engine: confirm each executed instrument's cap, discount, MFN, pro-rata, conversion, and funding-status terms with counsel.

Sources: Lovie — Lovie CapTable product overview, Y Combinator — The SAFE financing documents

What Delaware-specific checks belong in the migration?

Reconcile the legal entity name, authorized shares and par value, issued and reserved shares, security classes, board approvals, and registered-agent records against the certificate, board materials, and data room. Delaware's guidance identifies the certificate and registered-agent requirements and notes continuing annual-report and franchise-tax obligations. Have Delaware counsel confirm any discrepancy; migrating software does not amend the charter.

Sources: State of Delaware — Forming a Delaware Corporation

Will moving platforms change ownership, SAFE terms, or taxes?

Do not assume that an import is legally correct merely because the percentages add up. Treat the move as a data and operations migration, compare the rebuilt table with executed agreements, and obtain legal and tax advice on issuances, option plans, 409A matters, securities compliance, and any tax consequences. Lovie's review-before-write workflow and YC's description of a SAFE as a contract support a controlled process, but neither replaces counsel or a tax professional.

Sources: Lovie — Lovie CapTable product overview, Y Combinator — The SAFE financing documents, U.S. Securities and Exchange Commission — Ready to Raise CAPITAL

Sources and scope

Facts you can check.

Reviewed 2026-09-22. Provider, company-law, securities, and tax rules can change. Confirm the documents and obligations that apply to your company with qualified counsel and tax advisers before acting.

Move with the documents intact

Secure the export. Reconcile the table. Keep the proof.

Use Lovie to structure the migration, then review every result against the records that govern the company.

No automatic-transfer promise. No zero-loss guarantee. You review before anything saves.