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@Sharkstar
On what basis do you say that?
My point is simply that if there are plans to raise £400k in the immediate aftermath of raising the £100k, it would be good for the investors in the £100k round to know what the parameters of the deal for that £400k are.
Specifically, it would be good to know that the intention would be for this further round to be another up-round, meaning that if it were for equity it would value the company more highly than the current round. If that's the case it would also be good to know what the offer might be, so prospective buyers in the second round can take a view of how achievable this third round might be in the marketplace.