When it's time to convert your notes to shares, follow these steps:
Go to the Equity section in the main menu, then select the Note Holders tab.
Click on the name of the relevant note holder.
On the next window, click the three vertical dots on the right-hand side of the note you wish to convert, then choose either Convert (Auto) or Convert (Manual) from the drop-down menu.
Conversion Options
Convert (Auto)
This conversion method calculates the number of shares to be issued based on the underlying key details of the Note on issue, such as the Valuation Cap, Discount Rate, Interest Rate, etc.
To complete the conversion:
Confirm the conversion data.
Input the price per share.
Review the converted number of shares.
Click Convert.
Convert (Manual)
This conversion method allows you to override the platform's calculations and manually enter the number of shares to be issued as a result of the note conversion. To complete the conversion:
Enter the number of shares you wish the note to convert to.
If necessary, update the total amount paid to include accrued interest.
Change the share type as needed.
Confirm the conversion date.
Click Convert.
Once converted, the note holder will now automatically be issued with their shares and appear as a shareholder under Equity, then Shareholders. If desired, you can also issue the share certificate at this point.