You can bulk correct errors made while registering convertible loan notes in Carta.
You can also correct convertible notes individually. Corrections to convertible notes will trigger notifications to holders highlighting the changes.
1. Navigate to Fundraising > Unpriced investments > Closed investments.
1. Click Bulk update > Correct closed unpriced investments.
3. Check the boxes for the loan notes you want to modify. Click Continue.
Note that you won't be able to correct convertible notes with transactions such as conversions, repayments, and cancellations. These transactions will have to be revoked before corrections can be made.
5. The selected transactions will be populated into a bulk modification file that can be exported by clicking Download file. It will be made available to you through a modal in the bottom right-hand side of your page and via email.
| Please note, only the correction reason field is a required field in the spreadsheet, all the rest are optional. |
If you want to add documents to the corrected transactions, the format must follow the below example:
6. Update the spreadsheet and click Upload file when you are ready to process the changes on the platform. If there are any errors, Carta will provide you with a file detailing the errors and how to correct them.
7. To troubleshoot the file, look for the cells highlighted in red and hoover your cursor over the highlighted cell which will contain comments that will help correct the error.
8. (Optional) If documents were added to any of the loan notes corrected, then you’re required to upload the identified documents before continuing, by dropping the files in the box or by clicking Upload files.
9. Once uploaded, review the number of corrected transactions and click Publish changes.