It’s important to execute the relevant conversion agreements before recording them in your cap table. Recording the conversion in the cap table by itself does not effectuate the legal conversion transaction.
One input to the conversion process (within the context of SAFEs/CNs and equity financings) is the cap table pro forma, which forecasts share counts and fully diluted ownership post-conversion event.
To request a Simulation (pro forma), navigate to the Simulations tab, ensure that you have subscribed to a pricing plan that includes Simulations, then complete the request form.
It will produce an Excel-based pro forma (the format that your legal team and prospective investors will want to see it in because it contains the underlying formulas).
Once you’ve legally executed a SAFE/Convertible Note conversion, you can record the conversion and upload the conversion agreements in your cap table:
Navigate to Securities -> Convertibles and open the SAFE/Convertible Note you’d like to convert
Select the relevant share security from the “Converted to” field and add the conversion date.
To record the conversion of other security types, such as shares, navigate to the share, then click “Record conversion”:
There are two places to view conversions:
You may also download various reports that contain conversion-related information from the Reports tab:
It’s important to execute the relevant conversion agreements before recording them in your cap table. Recording the conversion in the cap table by itself does not effectuate the legal conversion transaction.
One input to the conversion process (within the context of SAFEs/CNs and equity financings) is the cap table pro forma, which forecasts share counts and fully diluted ownership post-conversion event.
To request a Simulation (pro forma), navigate to the Simulations tab, ensure that you have subscribed to a pricing plan that includes Simulations, then complete the request form.
It will produce an Excel-based pro forma (the format that your legal team and prospective investors will want to see it in because it contains the underlying formulas).
Once you’ve legally executed a SAFE/Convertible Note conversion, you can record the conversion and upload the conversion agreements in your cap table:
Navigate to Securities -> Convertibles and open the SAFE/Convertible Note you’d like to convert
Select the relevant share security from the “Converted to” field and add the conversion date.
To record the conversion of other security types, such as shares, navigate to the share, then click “Record conversion”:
There are two places to view conversions:
You may also download various reports that contain conversion-related information from the Reports tab: