# What did the Convertible Round convert to?

I am trying to calculate how much it cost me. I invested £750 in the CLN round back in 2022. How much did that end up converting to?

There was talk about this in another topic and I think it was announced as well. I’m not sure what they converted to hopfully someone can assist.

For me it looks like I paid £2.08 a share and am I right in thinking that was at a 20% discount? So the share price is £2.50?

I may have got the quick maths wrong :S

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Thanks, can anyone else confirm this?

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Mine says it closed at £2.60 a share

Where did you see that? I can’t find that on mine

Weird on my crowd cube cert it says £2.08 a share for me.

The CLN converted at 20% discount to the next valuation (Round 9 in 2023) which was £2.60. the discounted price is then £2.08 per share.
The convertible loan shares were also Series B preference shares.

Hi cant confirm as I wasn’t part of the round (stupid crowdcube success discount has put me off entirely) but if your cert says £2.08 it would be 2.08 x (100/80) = 2.60 so ties to what @CYBER said.

@Kiava to get a price of something that’s discounted you cant multiply it by 1+ the discount as this wont yield the figure.

Which is what I think you did (2.08 x 120% = 2.47). You need to consider the fact that you’re applying the 20% to a lower % of the original figure so use the above calc in the future!

Hope that helps pal

Hello,

My bad yes £2.08x0.80=£1.66. I got mixed up and added the 20% onto the cert price =£2.08x1.20=£1.50 thinking this is what they gave me at a discount and I still had 20% to go. Thanks for future reference tho

Sometimes like now I type on this form double vision as I have just woke up or like now been on Nightshift had to wait for the gas people they never came and I finished at 6am lol so almost 24 hours I have been up, sucks for them because I fell asleep only for an hour and they ain’t getting in now this week that’s the 3rd time trying.

Sorry I had to vent my little story to you

P. S Why does this form when you add a * for times it djssaoears and joins all the numbers together, I had to change them all to an x instead.

Got this from Capdesk

That’s not the CLN, that’s R9 (2023).
CLN shares are not showing in Capdesk. I have confirmed this with Freetrade on another thread.

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Ahh apologies, thanks for clarifying

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So no one has a straight answer to my question then

I believe this is your straight answer.
If you have invested £750 on the CLN, at £2.08 p/s you should have 360.5769 shares (value truncated at 4 decimal points).

The CLN will convert to shares on a “qualified financing”: a new funding round where Freetrade raises £40 million or more (i.e. a Series C). The share price at the point of conversion will be at a discount of 20% to the new funding round (Series C) or a share price implied by a £400 million valuation, whichever is lower.

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