Thank you for contacting Carta support.
The way that the Carta platform works is that when there is an exercise, a certificate is created for the transaction. If there is another exercise, a new certificate is created for the transaction again. The system does not create just 1 certificate for all of the combined transactions. The way that you can handle what you are trying to do, is to draft new certificates and adding up all of the quantities of shares and putting it in just one certificate and then deleting the old certificates. There is no way to automate this process since this is not the correct way of security issuance in the U.S. Draft and Issue Share Certificates (V2) Cancel Certificates Please consult with your legal team first to see if this is the correct option for you.
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Brent Devey
Community Manager
Carta
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Original Message:
Sent: 01-19-2023 12:09
From: Carta Admin
Subject: How to Change Share Issuance Structure
Hi,
We recently hired a new lawyer to handle all of our share issuances. They have told us the previous way of issuing shares (One certificate for each purchase event per stakeholder) is in fact not accurate in Panama (where we operate) and that after any additional shares have been issued to the same stakeholder, all previous share certificates are destroyed so there is only ever one share certificate with total share count.
I am looking for the best way to handle this going forward, uploading our share certificates but not creating more work that we have to constantly review every security in Carta to replace all certificates every time someone invests more money. Hope this makes sense, all the best.
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Carta Admin
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