Fixed Percentage Convertible Loan Note
What's new?
Company administrators can now add fixed percentage loan notes on the convertible instruments screen.
How does it work?
Company administrators can navigate to the convertible instruments screen and click ‘Add Convertible Instrument’. In the convertible instrument type dropdown select ‘Fixed Percentage Convertible Note’, when this is selected a required field ‘Fixed % Conversion’ appears. Once all information has been entered click ‘Submit’ and the convertible note will be added to the platform.
The holder of the convertible note will also be able to view their note on their investor or participant portal.
Why is it important and how am I affected?
This enhancement allows admins to add and convert their fixed % loan notes on the platform. This feature can be used by TechStars companies.