New to Carta. Specific question on Convertible Notes and if share price can be updated
I'm hoping someone can assist me with this issue. I'm a Controller for a company and first-time user to Carta. My predecessor converted some Notes based on a share price of $3.04/share, but the finalized Agreement states they should be $3.80/share. The result is that all Preferred Stockholders were issued an incorrect amount of shares - actually exceeds the amount authorized in the signed legal agreement. Is there a way to fix this and "re-convert" at the proper price? The only other thing I can find is if I cancel the shares and reissue the proper # of shares, but not sure of implications of that either (e.g. can the note amount carry over versus worrying about other consideration, etc.). I also do not want to trigger emails to 20 different investors if I don't have to, but feel like that's probably inevitable since they all have certificates with an incorrect # of shares. Any help would be greatly appreciated.
Update: Albert - Thank you, but I cannot change the number of shares there. I assume this is because they were converted from notes. I went into Convertibles and changed the "Conversion discount %" from 20% to 0%, as per the final legal agreement, but that didn't change the number of shares either. I'm only guessing that is because the shares were issued and signed by all parties. Still looking for help here.
Called Carta Support. The link from Convertibles needs to be severed (only Carta support can do), then as Albert noted, I can go into individual shareholders and update the shares, then re-link to the convertible.