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How do I delete a convertible from the Cap Table?
How do I delete a convertible from the Cap Table?
Updated over a week ago

The way to delete a convertible from your cap table depends on how it was created or added to your cap table originally.

Convertible positions that were generated using Clara's document generation tool are linked to a document in the data room, this document must be removed first.

Convertible positions that were manually added to your cap table can simply be deleted directly from the cap table.

Clara Convertible Note

When you generate a convertible note on Clara, a record of that convertible note will be linked to the legal document in the data room and locked in cap table.

To delete a convertible from your cap table you must first void and delete the associated document from the data room. Once the document has been deleted from your data room, the convertible position will be automatically removed from you cap table.

Follow the steps below to delete a Clara convertible note.

1. Convertible Table

SAFE - 4 in the image below is a convertible note that was generated on Clara.

Click on simple table

2. Go to your Data Room

Click on Data Room

3. Convertible Instruments

The SAFE - 4 note can be found in the Convertible Instruments section.

Click on Convertible Instruments

4. Click on View

Click on View

5. Click on Delete

Click on Delete

6. Delete the document

Tick the check box and click delete to confirm you wish to proceed.

Click on Delete

7. Convertible Table

SAFE - 4 has been automatically removed from the table.

Click on simple table

External Convertible Note

If you have manually added a Convertible note to Clara, follow the below steps to delete it from your cap table. These steps are only relevant to convertibles that have not been created and signed on Clara.

1. Click on Equity

Click on Equity

2. Click on Convertibles

All your convertible notes can be viewed and managed in this section.

Click on Convertibles

3. Click on simple table

This table will list all the convertibles that have been added to your cap table.

Click on simple table

4. Click on Delete

Click on three dots to trigger this option

Click on Delete

7. Confirm you are authorised to delete the convertible

Check I confirm that I am authorised to delete this convertible on behalf of Acme Demo TopCo.

Click here to read about how to add a convertible to your cap table.

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