It’s also why, although I don’t have a PhD in finance, I’ve made it a priority to understand the fundamentals of capitalization tables, known as “cap tables.” A pro-forma capitalization ...

Kluender, Raymond, Anke Becker, and Johnson Elugbadebo. "ELCA's Series A Cap Table Exercise (Student Version)." Harvard Business School Spreadsheet Supplement 824-713, March 2024.