1. Questions related to the auction and financial instruments:

No, purchases are accepted only at a limited price of BGN 1.05 per share. All purchases at a higher and/or lower price will be automatically canceled by the BSE. The auction is based on the largest remainder method, where every order submitted is satisfied. More information about the procedure and description of the method can be found at the following link.
Applying for shares on the website of Webit Investment Network AD (WIN) does not guarantee successful participation in the offering. To register WIN shares, take the following steps:
1. Contact your servicing investment intermediary or the lead issue manager IP Karoll AD ​​(Open an account);
2. Fund your brokerage account with the necessary amount to subscribe shares;
3. Place an order directly through the trading platform and/or contact the servicing broker.

Please note that account opening requires technology time. We recommend not waiting until the last minute for this purpose.
The issue will be available for trading on the secondary market approximately one month after the offering date.
If there is an oversubscription, all ranked queries are executed with the same completion rate. In the event of a hypothetical oversubscription of the issue twice, with investors applying for purchase of 11.176 million shares out of a total of 5.588 million shares offered, each investor will receive 50% fulfillment of his request.
No, applications are accepted by any licensed investment intermediary, a member of the Bulgarian Stock Exchange (BSE).
pening a brokerage account through the online registration form on Karoll's site takes about 1 business day. The account is considered opened after receipt of a controlled bank transfer to fund the account from the user's IBAN requested in the registration form. This translation serves to verify the client's identity. To participate in WIN's public offering, users should fund their brokerage account with the amount of money they wish to invest and submit an express participation order through the trading platform.
Yes, this can be done by opening a brokerage account remotely. For this purpose, the necessary data should be filled in a special form. After opening a brokerage account it is necessary to fund your brokerage account with the amount of money you wish to invest and add an explicit purchase to participate through the trading platform.
Yes, applications are now being accepted at the offices of the investment brokers and will be entered by the brokers on 06/06/22 to participate in the auction. Requests for the purchase of shares will be able to be submitted through electronic trading platforms as early as 03/03/22 after 18:00.
We believe that following the steps outlined in the WIN presentation and in response to the questions above in the Q&A session, there are no significant obstacles to anyone wishing to purchase shares in the offering. Please be warned, however, that the process may take some time (typically around 1 business day for an online request) and therefore we recommend taking steps to open a brokerage account and submit a request as early as possible and at least 2 business days before the actual offering.
No, secondary trading of WIN shares is expected to begin approximately one month after the offering.
The shares are ordinary, dematerialized, registered by your name and freely transferable.

Questions, related to the business model and the plans of WIN:

Investors are given the opportunity, within the framework of their participation in Investor Council meetings, to exclude companies that have successfully passed the third round of the Founders Games from the potential semi-finalists of the competition, automatically excluding them also from the investment opportunities of the WIN. Investors only have a negative vote. The decision on which finalists to invest the funds raised is left to the management of the WIN. It is not necessary that all funds be invested in one company. According to the last published financial report, WIN has set a maximum investment amount in one finalist company within 30% of its assets.
The Board of Investors functions on the basis of clearly defined and accepted Rules of Operation, which are attached to the Admission Document and which you can find on the following link.
The minimum dividend that is intended to be distributed to the common shareholders by WIN is 90% of the profit for the relevant year, after deducting the amount of the guaranteed dividend on the privileged Class B share, in which profit for the purposes of determining the minimum amount does not include increases or decreases in the Company's result from revaluations of its financial assets.
At the moment, the company doesn’t have such plans.
The amount that is raised is invested after the announcement of the finalists of the respective edition of the Founders Games and the successful passage of all their targeted investments through complex diligence led by the main investor of the round.

WIN will limit its investments to the amount of capital raised. Approximately BGN 5,388,000 with a maximum raised capital of BGN 5,867,400 will be used to acquire shareholding in finalists. The balance, consisting of the premium reserve and the initial share capital, will be used to pay the fees and commissions related to the offering and to finance the operational activities of the WIN.
For the most detailed and transparent overview of the risks of investing in UIN, we recommend that you carefully read II. Risk factors from the BEAM Market Admission Document.
WIN plans to acquire shares in the finalists of the Founders Games - one of the largest and most competitive challenges for start-up innovative companies in the world, organized by WEBIT.

WIN acquires shares only in companies that contribute to the sustainable future of our world and that have not entered yet a mature phase of their development. You could follow the business verticals of the participating companies here.
No, investors are not expected to have certain knowledge as a prerequisite for investment.
Before making a decision to participate in the offering, prospective investors should pay attention to and familiarize themselves in detail with all documents related to the offering, which can be found at the following Internet address and the company's website.
WIN plans to acquire shares in the finalists of the Founders Games - one of the largest and most competitive competitions for start-up innovative companies in the world, organized by WEBIT. Regarding WIN, this is the only requirement for investment - the company must be among the finalists of the current edition of Founders Games.

Within the Founders Games, participants go through several rounds and different evaluation criteria.
• In the first round, companies are evaluated based on three criteria:
1) Viable product;
2) Available capacity;
3) Stage of funding.

• In the second and third rounds, the evaluation is based on five new criteria:
1) Impact of the product;
2) Uniqueness of the idea;
3) Team;
4) Scalability of the business model;
5) Finances and necessary financing;

• In the semi-finals, one more criterion is added to the above five considering the fact that the participants have to present their companies in front of special juries:
6) Leadership and personal qualities.
No, the amount of investment in a certain finalist is evaluated by the Board of Directors.
We remind you that the WIN has set a maximum amount of investment in one finalist company up to 30% of its assets according to the last published financial report.
The selection of exactly which of the four to five finalists in the Founder's Games to invest in is evaluated by the Company's Board of Directors. We remind you that after they are announced as finalists, before investment is made in them, the finalist companies go through a comprehensive review led by the main investor of the round.
WIN is just the beginning of this global initiative to democratize the world of venture capital. We assure investors that there are plans for listing on Western stock exchanges of other similar companies following the example of WIN, but specifics cannot be shared yet.
• In the marketing materials, several successful examples of this year's participants are presented - the capital raised in the last round of financing, the valuation, as well as the leading investors in each of them:

• In addition, on the Company's website you could find a report on the capital raised by the finalists of the last four editions of the Founders Games before and after their participation in the competition, with the amount raised after the Founders Games increasing more than 4 times compared to before.

• Several successful examples of finalists from past editions are presented in the marketing materials:
Appendix 7 is only a hypothetical algorithmic example of the principle of distribution of certain classes of shares in the distribution of dividend, liquidation share and in the case of capital reduction.
Potential investors should have in mind that the financial information presented in this example has been prepared for illustrative purposes only to represent the mechanism for allocations by the class of shares in the capital of the WIN. Due to its characteristics, this information reflects a hypothetical situation and does not represent the actual financial position and results of the issuer. This is not a prediction, but a hypothetical example.
The disclosure of the information takes place according to the BEAM Market Rules - twice a year together with the annual and six-monthly reports of the Company. According to the Rules, it is mandatory for WIN to also immediately disclose inside or material confidential and price-sensitive information.
WIN has the right to invest in the finalists of the Founders Games competition by acquiring certain instruments including:
• convertible loans, or
• SAFE tools, or
• promissory notes,
• as well as direct equity participation.
WIN plans to invest in the finalists of each edition of the Founders Games. The competition is held twice per year, with the final rounds usually in June and December.
ДThe company intends to offer to its shareholders decision-making to carry out additional capital increases through the BEAM market with each release of Founders Games.
The Executive Director of WIN is owed an annual remuneration in the amount of 2.5% excluding VAT of the amount of the Company's financial assets according to its last published financial statement, adjusted for the investment holding period (if the investment is held within one hundred and eighty one days of the year, the reward is adjusted by a factor of 181/365 (366 if the year is a leap year) or 0.49589). In the absence of liquidity (sufficient cash to pay maturity remuneration) in the company, the Executive Director's remuneration remains payable until sufficient cash inflow occurs. No penalty interest is requested.

Two of the remaining members of the Board of Directors are owed monthly gross remuneration in the amount of BGN 1,000.

The fourth member of the Board of Directors will not receive remuneration.

On another note, the Executive Director of WIN also owns a class B privileged share.
We also advise the shareholders to familiarize themselves with the rights thereunder, shared in detail in the BEAM Market Admission Document.
No, the fee structure is described in detail in the paragraph above, as well as in the privileges of the Class B Privileged Share - owned by the Executive Director.
Yes, any investor who wishes to participate in the public offering should familiarize himself with the tariff of the investment intermediary serving him. The tariff of IP Karol AD ​​is available here.
We believe the fee is standard for the venture capital fund industry. On a second note, it is good to take into account that without the presence of the Executive Director, to whom the management fee is owed, the WIN as a company could not have access to investment in the winners of the Founders Games, ie. its business model becomes meaningless.

For this right, WIN currently owes 0.1% of the invested amount on an annual basis to the Contest Organizer, which is negligible, considering the access to the collective intelligence of investors of the rank of Tim Draper, a microcosm of 3500 startups per season in over 10 business verticals, an evaluation process spread over 5 rounds, in which the judges are investors from funds such as Sequoia and Earlybird, and a guaranteed investment in four to five of the most promising startups within two editions per year. Last but not least, the Board of Directors is responsible for selecting the finalists to invest in and the amount to invest in each one.