Convertible notes are a form of debt with a senior position in a company’s capital structure and a feature whereby the notes may convert to equity following achievement of certain milestones according to their convertible terms. The steps below detail how to delete existing convertible terms if you need to for any reason.
Navigate to the Securities Terms page to delete convertible terms
Sign in to Cyndx and go to the Owner tab
On the left-hand navigation bar, click the Securities drop down
From the drop down menu, click on Securities Terms
On the Securities Terms page, click the Convertible Terms tab
Click the Delete button (trash icon) on the terms you would like to delete
Delete Convertible Terms
6. You will be asked “Are you sure you want to delete these terms?”
Select Yes to proceed
Example
Delete Convertible Terms
See also: After I delete convertible terms, how do I draft new convertibles?
Read more on convertibles in our Cap Table Glossary