Convert Convertible Notes
There are two ways to convert the Convertibles to be linked to the resulting Certificates:
(A) when the certificate has yet to be issued
(B) when the certificate is already on the cap table.
At this time, Convertibles can only link to Certificates on a 1:1 ratio (one certificate per one convertible).
(A) Certificate yet to be issued
1. To convert a convertible into a certificate, begin by drafting the resulting certificate. In the certificate draft editor, enter in the issue date first, then choose the note that you are converting from the drop-down menu in the 'Convert Note' section. Once a convertible note is selected, the certificate's name, email address, and debt canceled fields will automatically be populated.
2. After the certificate has been sent to the officers for signature, the note will be marked as converted in the convertibles ledger. The new certificate will link back to the note to keep track of conversions.
(B) Certificate on the cap table
1. To link a convertible to a certificate due to a conversion, check off the certificate and click on the blue "actions" button to select "modify certificates".
2. From the "modify certificate" modal, check off the "converted from" field and select the Convertible from the drop down. Then scroll down to click "next" and complete the final steps.
3. After saved from either method, this is the link seen on the Certificate/Convertibles' detail