Convert reserves and accrued interest

Convert accrued interest to reserves and eligible reserves to shares.

Last reviewed: 2026-08-25

Interest and reserves are separate conversions

• Convert interest — for eligible convertible debt, accrued interest is calculated through the selected conversion date and converted into reserves. It does not directly create shares.
• Convert reserves — eligible reserves in an investment wallet are converted into shares at the selected date under the contract and round terms.

Before converting

• Confirm that you have company administrator access; conversion actions are not shown to editors or viewers.
• Confirm that the signed instrument authorizes the conversion and that the contract, valuation, dates, and share class are correct.
• Review the contract’s expiration and final exercise date, when present.
• Confirm the investment still has the eligible interest or reserve balance and that it has not already been converted, repaid, or transferred.
• Check that the round is in a state that permits conversion and that no company calculation is already running.

Convert accrued interest to reserves

1. Open the investor position in an eligible convertible debt contract and choose Convert interest.
2. Select the conversion date. Interest accrual stops at that date for this conversion.
3. Review the recalculated accrued interest and previewed reserve quantity.
4. Confirm the conversion and verify that the new reserves appear in the investment.

Convert reserves to shares

1. Open the investor position and choose Convert reserves.
2. Enter the conversion date and review any final-exercise warning.
3. Confirm the operation, then verify the reserve decrease and resulting share increase.

After either conversion

Reconcile the investment wallet, contract totals, ticker, company cap table, transaction history, and supporting notice. If interest was converted to reserves and those reserves must also become shares, treat the reserve conversion as the next distinct operation.