Share class conversion
A share class conversion involves changing shares from one class to another.
Here's how to record a conversion:
Go to the 'Share Transactions' screen.
Ensure multiple share classes are created.
On the desired transaction, select the 3-dot menu and choose 'Convert'.
In the conversion pop-up, fill in the following details:
Convert Shares To: Select the new share class from the dropdown.
Shares Converted: Enter the number of shares to convert.
Conversion Date: Enter the date of conversion.
Comments: Add internal notes (visible to Administrator only).
After entering the details, click 'Submit' to record the conversion. The original transaction status will update to 'Converted'.
Full Conversion: A new transaction is created for shares in the new class.
Partial Conversion: The original transaction is marked as converted, and two new records are added: One for shares in the new class. Another for remaining shares in the original class, labeled 'Conversion Surplus'.
Conversions are visible on the Participant Portal's Dashboard and Share Transactions screen, showing changes in share classes on the Cap Table.