Subject. This article discusses the conditions that arise during the corporate life cycle, attract external financing, and affect the risk of equity dilution. Objectives. The article aims to identify the key characteristics of companies financed through multi-voting shares at different stages of life cycle. Methods. For the study, I used generalization, argumentation, analysis, synthesis, and classification. Results. The article defines the key characteristics of companies for which the equity structure should be formed through multi-voting shares. It presents a classification of characteristics according to the criteria of necessity and sufficiency, which makes it possible to determine the company's charter document conditions for the circulation period of multi-voting shares. Relevance. The results obtained can be integrated into the process of developing a joint-stock company's financial strategy to reduce the level of uncertainty that characterizes the company within the life cycle at the early and upsurge stages.
Keywords: financing system, equity, capital structure, financial instrument, security
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