Pulley for Wyoming LLC Series A

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 Wyoming LLC companies at the Series A stage.

Segment module 1

Pulley export-to-Lovie migration checklist for a Wyoming LLC

Pulley currently states that it will cease operations and services on 8 December 2026, and its public notice describes assisted migration for existing customers to Carta; it does not establish Lovie as an official migration partner.

Pulley's help documentation says the cap-table download can be all-time or a custom date range, can optionally include drafts, exports to XLSX, and includes an Ownership tab with stakeholder, share-class, plan, and award information.

Make the module a controlled checklist: preserve all-time and dated snapshots, separately retain agreements and approvals, map each record to the Wyoming LLC's governing documents, import only after reconciliation, and obtain a signed as-of validation. Promise guided review only unless Lovie has verified an automated importer.

Sources: Pulley — FAQ: What is happening with Pulley’s shutdown, Pulley Help Center — Cap table basics

Segment module 2

Translate Wyoming LLC ownership records before modeling the round

The Wyoming Limited Liability Company Act defines a member, operating agreement, transferable interest, and transferee; it states that the operating agreement governs member relations, management and voting rights, transferability, and distributions.

A Wyoming LLC cap table should therefore distinguish membership interests, transferable economic interests, profits interests, phantom equity, and contractual rights rather than silently relabeling everything as corporate shares.

Pulley's LLC page specifically discusses capital contributions, membership and profits interests, phantom equity, multi-tier structures, and employee portals, making this a migration-specific data-mapping module rather than a generic formation explainer.

Sources: Wyoming Legislature — Wyoming Limited Liability Company Act, Article 1 - General Provisions, Pulley — Cap table management for LLCs

Segment module 3

Series A reconciliation: SAFEs, notes, grants, consents, and pro forma ownership

Pulley's Series A guide identifies the diligence inputs to reconcile: founder holdings and vesting, SAFEs, convertible notes, options, warrants, board consents, and a fully diluted ownership view.

Y Combinator states that a SAFE converts into shares automatically when the startup raises a priced round and explains that post-money SAFE ownership is calculated from the investment and valuation cap; exact signed terms must control the model.

The page should provide a migration-specific preflight: compare Pulley exports with executed documents, isolate missing or draft instruments, model conversion and dilution, and produce an as-of diligence snapshot. It must not present an illustrative model as a term sheet or legal conclusion.

Sources: Pulley — How to set up a Series A cap table, Y Combinator — The SAFE financing documents

Segment module 4

LLC-versus-corporation checkpoint before accepting Series A terms

Wyoming law permits an LLC for any lawful purpose and provides that Wyoming law governs its internal affairs; it does not by itself answer whether a particular investor or financing structure will accept an LLC.

The IRS states that an LLC is a state-law business structure and that legal and tax considerations enter into entity selection; tax classification and elections depend on the company's facts.

Use a decision checkpoint tied to the migration: compare keeping the LLC with converting or reorganizing only after counsel reviews the operating agreement, investor requirements, securities documents, and tax consequences. Link to formation resources only as a secondary path, not as the page's main intent.

Sources: Wyoming Legislature — Wyoming Limited Liability Company Act, Article 1 - General Provisions, Internal Revenue Service — Business structures, Lovie — Lovie CapTable product overview

02 — Illustrative cap table

Wyoming LLC · Series A ownership scenario

Illustrative planning-only scenario for a Wyoming LLC migrating from Pulley and preparing a Series A-style financing. Ownership is normalized into planning units so the arithmetic is readable; these are not legal shares, not market data, and not legal or tax advice.

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.

Wyoming LLC · Series A ownership scenario
Input	Value	Why it is here
Pre-round normalized units	founders 650,000; early investors plus financing instruments already reconciled and recognized by counsel 200,000; issued employee/advisor interests 50,000; unallocated incentive reserve 100,000.	Illustrative input used only for this scenario.
Pre-round total	650,000 + 200,000 + 50,000 + 100,000 = 1,000,000 units.	Illustrative input used only for this scenario.
Illustrative financing	$10,000,000 Series A-style investment at a $40,000,000 pre-money valuation and $50,000,000 post-money valuation; assumed planning price is $40 per unit.	Illustrative input used only for this scenario.

New units = $10,000,000 / $40 = 250,000. Post-round total = 1,000,000 + 250,000 = 1,250,000. Post-round ownership: founders = 650,000 / 1,250,000 = 52%; early investors/recognized instruments = 200,000 / 1,250,000 = 16%; issued employee/advisor interests = 50,000 / 1,250,000 = 4%; unallocated reserve = 100,000 / 1,250,000 = 8%; Series A investor = 250,000 / 1,250,000 = 20%. Checks: 250,000 x $40 = $10,000,000; 1,000,000 x $40 = $40,000,000 pre-money; $40,000,000 + $10,000,000 = $50,000,000 post-money; percentages sum to 100%.

On these assumptions, the new investor owns 20% post-round and all pre-round holders collectively move from 100% to 80%. The result is only a transparent scenario for migration and diligence conversations; it is not a prediction of Series A pricing or dilution and does not establish that a Wyoming LLC can issue these exact units or rights.

Show scenario assumptions

All existing instruments, side letters, vesting, approvals, and ownership disputes have already been reconciled; no additional SAFE discount, valuation-cap conversion effect, note interest, warrant, or pro-rata exercise is included.
The 100,000-unit incentive reserve is already included pre-round and is not topped up in the financing.
The normalized units are an analytical abstraction. A Wyoming LLC may use membership, transferable, profits, or other contractually defined interests; counsel must map any proposed financing to the operating agreement and definitive documents.
The $40 per unit, valuations, and $10,000,000 investment are hypothetical inputs only, not market data or an offer of securities.

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-Lovie migration checklist for a Wyoming LLC” against the source export and governing documents.
Review “Translate Wyoming LLC ownership records before modeling the round” against the source export and governing documents.
Review “Series A reconciliation: SAFEs, notes, grants, consents, and pro forma ownership” against the source export and governing documents.
Review “LLC-versus-corporation checkpoint before accepting Series A terms” against the source export and governing documents.

04 — Related migration paths

Compare the nearest cases.

These pages share one dimension with this company, but the documents and checks change with jurisdiction or funding stage.

05 — Wyoming LLC · Series A FAQ

Questions that change for this company.

What should I export from Pulley before moving a Wyoming LLC cap table?

Pulley's official help article says to download the cap table as an XLSX, using an all-time history or a custom date range and optionally including drafts. Preserve an all-time file plus a dated snapshot, then separately assemble executed operating-agreement amendments, issuance records, consents, SAFE or note documents, vesting records, and tax or valuation files that the new provider cannot safely infer from a table alone. Do not assume an export is a legal ownership opinion.

Sources: Pulley Help Center — Cap table basics, Pulley — How to set up a Series A cap table

Does a Wyoming LLC cap table use shares like a Delaware corporation?

Not automatically. The Wyoming Act uses concepts such as members, operating agreements, transferable interests, and distributions, and makes the operating agreement central to many ownership and governance terms. A migration should preserve the legal terminology and map it to the company's documents rather than relabeling every interest as stock. A lawyer should confirm the treatment of membership, profits, phantom, and other interests.

Sources: Wyoming Legislature — Wyoming Limited Liability Company Act, Article 1 - General Provisions, Pulley — Cap table management for LLCs

Can a Wyoming LLC raise a Series A without converting to a C corporation?

There is no universal yes-or-no answer for a particular company or investor. Wyoming law permits LLCs for lawful purposes, but the operating agreement, proposed investor rights, securities documents, tax classification, and investor requirements determine what is workable. The page should present conversion as a counsel-led decision checkpoint, not promise that an LLC will be accepted or that conversion is always required.

Sources: Wyoming Legislature — Wyoming Limited Liability Company Act, Article 1 - General Provisions, Internal Revenue Service — Business structures, U.S. Securities and Exchange Commission — Exempt Offerings

How should existing SAFEs be handled when a Wyoming LLC prepares for a Series A?

Collect each executed SAFE and its valuation cap, discount, post-money or pre-money form, MFN or pro-rata terms, and side letters; then have counsel determine whether and how it converts in the proposed financing. Y Combinator explains that a SAFE converts into shares automatically when a priced round occurs, but the signed instrument and the company's legal structure control the actual result. A provider model is a planning aid, not a substitute for the documents or legal review.

Sources: Y Combinator — The SAFE financing documents, Pulley — How to set up a Series A cap table

Does Pulley's shutdown mean Lovie will automatically import my data?

No such Lovie importer or partnership should be promised without a verified product capability. Pulley's current public notice says operations and services cease on 8 December 2026 and describes an assisted-migration offer to Carta for eligible existing customers. The safe page promise is a documented export, guided intake, reconciliation, and verification workflow; state any Lovie automation only when its current terms and product documentation confirm it.

Sources: Pulley — FAQ: What is happening with Pulley’s shutdown, Pulley Help Center — Cap table basics, Lovie — Lovie CapTable product overview

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.