This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Convertible Note Cap Table in North Carolina

In North Carolina, convertible note cap table treatment is governed by the shareholder voting rights and adjustments set out in N.C. Gen. Stat. § 55-6-01. That statute establishes the default rule that each outstanding share, including shares issuable upon conversion of a convertible note, carries one vote unless the articles of incorporation provide otherwise. The statute does not prescribe a specific conversion ratio or cap table formula; instead, it defines how conversion rights affect voting power and share classification. The official source at the link below provides the exact statutory language, including any exceptions or special provisions applicable to convertible instruments. For a precise estimate of how a convertible note impacts a specific cap table, use the DocketMath calculator, which applies the statute’s framework to your unique facts.

Governing authority

In North Carolina, the convertible note cap table rule is set by N.C. Gen. Stat. § 55-6-01. The verified packet cites N.C. Gen. Stat. § 55-6-01 (https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_55/GS_55-6-01.html).

North Carolina convertible note cap table: governed by N.C. Gen. Stat. § 55-6-01. The verified packet cites N.C. Gen. Stat. § 55-6-01 (https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_55/GS_55-6-01.html).

Estimate your own result: every situation has exceptions that can change the outcome. Use the convertible note cap table calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.