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by Undo Capital
December 11, 2025
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What Is the ASA Long-Stop Date?

The ASA long-stop date is the final deadline by which an Advance Subscription Agreement (ASA) must either convert into shares or be repaid to the investor.

ASA Long-Stop Date Meaning

The ASA long-stop date meaning represents the maximum time the company has to trigger a qualifying conversion event, such as a priced funding round. To define the ASA long-stop date in practice, it is a fixed future date, often 12 to 24 months after the ASA is signed, set to protect investors from indefinite delays. A clear ASA long-stop date definition helps founders plan fundraising timelines and ensures investors are not left waiting without resolution. If no conversion occurs by this date, the ASA typically becomes repayable.

Learn more about ASAs and startup funding structures at Undo Capital.

Disclosure Notice: This communication is issued by Undo Capital Limited (“Undo Capital”) and is provided strictly for informational purposes only. It contains general information and should not be relied upon as accounting, business, financial, investment, legal, tax, or other professional advice. Undo Capital is not regulated by the Financial Conduct Authority (FCA) and does not provide investment, financial, or tax advice. Our services are designed to assist startups and businesses with company formation, legal agreements, and funding-related documentation. Nothing in this communication constitutes, or should be construed as, a recommendation, offer, or solicitation to purchase or sell any security or financial instrument.
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Disclaimer: Our services are designed to assist startups and businesses with company formation, legal agreements, and funding-related documentation. We do not provide investment advice, financial advice, or tax advice, nor are we regulated by the Financial Conduct Authority (FCA). Participating in startups and early-stage enterprises carries inherent risks, including limited liquidity, absence of dividends, potential loss of investment, and dilution. Any decisions regarding investments should be made independently by the investor as part of a well-diversified portfolio.