Convertible Note

A convertible note.

OCF Equivalent

Maps to OCF's ConvertibleIssuance, plus cancellation/transfer events.

ConvertibleIssuance — issuance tx

Related:

ConvertibleCancellation — cancellation tx
ConvertibleTransfer — transfer tx

Endpoints

GET /v1alpha1/issuers/{issuerId}/convertibleNotes — list
GET /v1alpha1/issuers/{issuerId}/convertibleNotes/{id} — single

Shape at a glance

Quick comparison of field names, types, and required-ness. See the full Carta properties below, or follow the OCF link for full OCF field documentation.

Carta — v1alpha1ConvertibleNote

A convertible note.

Property	Type	Req
`id`	string
`issuerId`	string
`stakeholderId`	string
`securityLabel`	string
`issueDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`	✓
`conversionDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`
`canceledDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`
`cashPaid`	`v1alpha1Money`	✓
`maturityDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`
`interest`	`v1alpha1Money`	✓
`noteBlock`	`v1alpha1NoteBlock`	✓
`interestAccrualPeriod`	`v1alpha1InterestAccrualPeriod`
`interestRate`	`v1alpha1Decimal`
`interestCompoundingPeriod`	`v1alpha1InterestCompoundingPeriod`	✓
`dayCountBasis`	`v1alpha1DayCountBasis`	✓
`priceCap`	`v1alpha1Money`
`discountPercentage`	`v1alpha1Decimal`
`changeInControlPercent`	`v1alpha1Decimal`
`conversionTrigger`	`v1alpha1Money`
`canceledQuantity`	`v1alpha1Decimal`

OCF — ConvertibleIssuance

Object describing convertible instrument issuance transaction by the issuer and held by a stakeholder

Property	Type	Required
id	`STRING`	`REQUIRED`
comments	[`STRING`]	-
object_type	Constant: `TX_CONVERTIBLE_ISSUANCE` Defined in schema/enums/ObjectType	`REQUIRED`
date	schema/types/Date	`REQUIRED`
security_id	`STRING`	`REQUIRED`
custom_id	`STRING`	`REQUIRED`
stakeholder_id	`STRING`	`REQUIRED`
board_approval_date	schema/types/Date	-
stockholder_approval_date	schema/types/Date	-
consideration_text	`STRING`	-
security_law_exemptions	[ schema/types/SecurityExemption ]	`REQUIRED`
investment_amount	schema/types/Monetary	`REQUIRED`
convertible_type	`Enum - Convertible Type` Description: Enumeration of convertible instrument types ONE OF: • NOTE • SAFE • CONVERTIBLE_SECURITY	`REQUIRED`
conversion_triggers	Array of Any Of Following Types/Objs: • schema/types/conversion_triggers/AutomaticConversionOnConditionTrigger • schema/types/conversion_triggers/AutomaticConversionOnDateTrigger • schema/types/conversion_triggers/ElectiveConversionAtWillTrigger • schema/types/conversion_triggers/ElectiveConversionInDateRangeTrigger • schema/types/conversion_triggers/ElectiveConversionOnConditionTrigger • schema/types/conversion_triggers/UnspecifiedConversionTrigger	`REQUIRED`
pro_rata	schema/types/Numeric	-
seniority	`INTEGER`	`REQUIRED`

Properties

Property	Type	Required	Description
`id`	string		The identifier of the convertible note.
`issuerId`	string		The identifier of the issuer owning the convertible note.
`stakeholderId`	string		The identifier of the stakeholder holding the convertible note.
`securityLabel`	string		The label representing this security (convertible note).
`issueDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`	✓	The date and time the convertible note was issued.
`conversionDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`		The date and time the convertible note was converted to a certificate.
`canceledDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`		The date and time the convertible note was canceled.
`cashPaid`	`v1alpha1Money`	✓	The amount of cash that the stakeholder paid for the convertible note. For example, if the stakeholder invested $10,000, then $10,000 is the `cash_paid`. This field is also known as `principal`.
`maturityDatetime`	`v1alpha1Iso8601CompleteCalendarDateTime`		The date and time on which the convertible note matures. At maturity, the convertible note's `cash_paid` and `interest` must be paid back if the convertible note hasn't converted into equity.
`interest`	`v1alpha1Money`	✓	The accrued interest for the convertible note.
`noteBlock`	`v1alpha1NoteBlock`	✓	The note block associated with the convertible note.
`interestAccrualPeriod`	`v1alpha1InterestAccrualPeriod`		The length of time over which the interest due to the lender is calculated.
`interestRate`	`v1alpha1Decimal`		The annual interest rate that the note accrues.
`interestCompoundingPeriod`	`v1alpha1InterestCompoundingPeriod`	✓	The interest compounding period of the convertible note.
`dayCountBasis`	`v1alpha1DayCountBasis`	✓	The standardized way of counting the number of days between two dates.
`priceCap`	`v1alpha1Money`		The valuation cap sets a maximum value at which a convertible security will convert into equity in the financing round. This valuation cap stands regardless of the valuation of the financing round.
`discountPercentage`	`v1alpha1Decimal`		The discount applied to the price per share when the note holder will purchase shares in the next fundraising round. 1 represents 1%.
`changeInControlPercent`	`v1alpha1Decimal`		Denotes any premium or multiplier applied to the `cash_paid` in the event of a change in control prior to the maturity date. 1 represents 1%.
`conversionTrigger`	`v1alpha1Money`		For convertibles to convert into the next equity round, terms may be included that specify that the round be of a certain size for the convertible to convert.
`canceledQuantity`	`v1alpha1Decimal`		The quantity of shares in this convertible note that were canceled

Referenced by

(not embedded in other domain objects)

Underlying schema: v1alpha1ConvertibleNote

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