No, this is not required, and would be a company-by-company decision. Carta has the ability to link historic SAFE notes and convertibles to the resulting stock certificates, so if you would like to record the original SAFE and link it to the resulting stock certificate, you can do so. However, it is not a requirement, and if you would prefer to include only the new stock certificate, Carta can support that as well.
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Carta Implementation
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Original Message:
Sent: 09-07-2023 09:29
From: Jason Eliason
Subject: Converted SAFEs
Do I have to reflect a past SAFE issuance to my cap table that has already converted?
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Jason Eliason
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