StockClassConversionRatioAdjustment

Object - Stock Class Conversion Ratio Adjustment Transaction#

https://raw.githubusercontent.com/Open-Cap-Table-Coalition/Open-Cap-Format-OCF/main/schema/objects/transactions/adjustment/StockClassConversionRatioAdjustment.schema.json

Description: Object describing the conversion ratio adjustment of a stock class that has a RatioConversionMechanism conversion mechanism where there was an actual repricing due to a down-round. The actual determination of the new conversion ratio / conversion price is calculated outside of OCF, so the specific mechanism - e.g. broad-based weighted-average anti-dilution protection vs. full ratchet anti-dilution protection.

Data Type: OCF Object - TX_STOCK_CLASS_CONVERSION_RATIO_ADJUSTMENT

Composed From:

Properties:

Property	Type	Description	Required
id	`STRING`	Identifier for the object	`REQUIRED`
comments	[`STRING`]	Unstructured text comments related to and stored for the object	-
object_type	Constant: `TX_STOCK_CLASS_CONVERSION_RATIO_ADJUSTMENT` Defined in schema/enums/ObjectType	Object type field	`REQUIRED`
date	schema/types/Date	Date on which the transaction occurred	`REQUIRED`
stock_class_id	`STRING`	Identifier of the StockClass object, a subject of this transaction	`REQUIRED`
new_ratio_conversion_mechanism	schema/types/conversion_mechanisms/RatioConversionMechanism	New conversion ratio mechanism describing new conversion price and conversion ratio in effect following a repricing - based on original issue price to new conversion price (provided in this transaction). For 2-for-1 split the numerator of the ratio is 2 and the denominator is 1.	`REQUIRED`

Source Code: schema/objects/transactions/adjustment/StockClassConversionRatioAdjustment

Examples:

[
  {
    "object_type": "TX_STOCK_CLASS_CONVERSION_RATIO_ADJUSTMENT",
    "id": "change-conversion-ratio-following-down-round",
    "date": "2022-11-02",
    "stock_class_id": "8d8371e8-d41d-4a49-9f42-b91758fd155d",
    "new_ratio_conversion_mechanism": {
      "type": "RATIO_CONVERSION",
      "rounding_type": "CEILING",
      "conversion_price": {
        "amount": "0.20",
        "currency": "USD"
      },
      "ratio": {
        "numerator": "1.00",
        "denominator": "0.20"
      }
    },
    "comments": [
      "Broad-based anti-dilution repricing due to massive down-round. Calculated by Law Firms R Us LLP on November 1st, 2022."
    ]
  }
]