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 Washington

In Washington, convertible note cap table treatment follows the default rules set by the Revised Code of Washington § 23B.06.010, which governs how a corporation’s board of directors may fix the conversion terms. Under this statute, the board determines the number of shares issuable upon conversion of a note, including any price cap or valuation cap specified in the note agreement. The cap table reflects these conversion terms at the time of the triggering event, such as a qualified financing. The exact calculation of share allocation depends on the note’s specific terms and the company’s capitalization structure. The official source provides the statutory framework for these board determinations. The worked example below demonstrates a typical conversion scenario. Use the DocketMath calculator to estimate your own cap table adjustments under Washington law.

Governing authority

In Washington, the convertible note cap table rule is set by Rev. Code Wash. § 23B.06.010. The verified packet cites Rev. Code Wash. § 23B.06.010 (https://app.leg.wa.gov/RCW/default.aspx?cite=23B.06.010).

Washington convertible note cap table: governed by Rev. Code Wash. § 23B.06.010. The verified packet cites Rev. Code Wash. § 23B.06.010 (https://app.leg.wa.gov/RCW/default.aspx?cite=23B.06.010).

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.