Recording an exchange of stock (or said another way, recording the change of shares from one class of stock in your company to another class of stock) can be accomplished in Shoobx via the "Exchange of Stock" workflow. Please note that this workflow requires that you upload evidence of this transaction, and will not generate any documentation for this exchange.
To see the steps of the workflow and what's required of you at each point, please select the portion you're interested in, below:
Have questions about recording stock exchanges? Reach out to us at support.Shoobx@fmr.com.
The first step of the workflow will ask you to upload the Stock Exchange Agreement documenting the exchange in shares. You may also select this document from the Data Room if it has already been uploaded there:
On the next page of the flow, you'll want to define each exchange. You can start by clicking on the "Add Exchange" button. You'll be asked to select the stockholder, the stock certificate affected, and provide details about how the new stock certificate(s) should be allocated.
As a part of the pop up window which appears in the prior step, you will arrive at a chevron titled "Define Exchanges." In this step, you'll be asked to provide the details of the stock exchange. If you are exchanging this certificate for multiple certificates, please provide the dollar amount allocated to each new certificate from the original investment or purchase.
For instance, you'll be asked to define the exchange by confirming the number of shares that are subject to being exchanged from the original certificate, the new class that the shares are being exchanged for, and the dollar value represented by the stock:
After clicking 'Save', the flow will bring you back to the "Define Exchanges" page. If there are no other exchanges associated with this certificate, continue.
At this point, you will have the opportunity to upload or generate the certificates that were created through the exchange process. During this step you will need to know the certificate number and any applicable legends.
Finally, if you continue you will arrive at the "Checkpoint" step where you will be able to review all uploaded documents (and any stock certificates you may have decided to generate in Shoobx). You can send these documents to your legal team for review, or you can proceed past this step. Moving forward will update your cap table to immediately reflect this exchange, and will send any stock certificates that have been generated on the platform out for signature.
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