Convertible loans works like a normal loan but includes extra terms such as discount, interest, and conversion rules.

You can manage all convertible loans from the “Financial instruments” page in the left menu.

On this page, you can:

This article explains each of these actions step by step.

You can issue a loan in two ways:

This opens a side panel where you enter the loan details.

Select who is giving the loan:

You now define the financial rules of the loan:

The amount of money the stakeholder is lending to the company.

A percentage reduction the lender gets when converting the loan into shares.

The interest that will accumulate over time.
This is usually added on top of the loan amount during conversion.

A maximum valuation for calculating the conversion price.
This can give the investor better terms.

A fixed price per share that will be used for conversion instead of using valuation or discount.

The date the loan agreement was signed.

The deadline for converting or repaying the loan.

Two options are available:

A) Share class agreed

The agreement already states which share class will be issued.
Choose among your existing share classes.

B) Share class upon conversion

The share class will be decided during conversion.
You can write details or rules about how it should be chosen.

Upload any documents such as:

Send an email invitation so the user can see the instrument in their own portfolio.

Click:

Once issued, it appears in the convertible loans tab with the status “Approved.”

Next to each loan, you will see three dots with more actions:

Opens a side panel where you can adjust:

Save changes to update the instrument.

Removes the loan completely.
This cannot be undone.

This is used when the loan must be turned into shares.

Click “Convert” to open the conversion panel.

The conversion panel lets you manage all steps of the conversion.

At the top, you will see:

Choose one of the triggers:

You can then edit:

The valuation used to calculate the share price.

The date the conversion happens.

You can adjust the interest manually if needed.

If selected, the interest will not be converted into shares and the interest field becomes disabled.

Enter how much of the loan you want to repay in cash (if any).

Choose which share class will be issued.

Add a note explaining the circumstances.

Unlisted gives you a preview of the conversion results:

This helps you confirm the outcome before finalizing.

Upload any supporting documents related to the conversion.

You have two choices:

Sets the status to “Converting.”
Useful if you want to review the impact on the fully diluted cap table before issuing shares.

Managing convertible loans in Unlisted is simple and flexible.
You can:

Every step is guided to ensure the conversion is accurate and reflected correctly in your cap table and transaction history.