Enhance the accuracy of capital structures and ensure compliance by updating the Class Authorized share amount in just a few clicks.
Overview
The Authorized Amount of a Class represents the maximum number of shares that an Entity is legally permitted to issue. This article outlines how to record an alteration to this amount within the Securities module.
Availability: All customers.
Access the Class
Navigate to the Profile of the Entity requiring the alteration
Select the Securities section from the left-hand side of the screen
Click on the Classes tab
Select the specific Class to be altered to open the Class modal
Record the Authorized Amount Alteration
Select the blue Alter Class button in the bottom right-hand side
Select Change authorized amount
In the Change Authorized Amount modal, enter the new value in the Authorized Amount field
Select the appropriate mandatory Transaction Date*
Alternatively, check/uncheck the Unlimited checkbox should you need to adjust to or from unlimited shares
Click the blue Save button in the bottom right-hand corner to finalize the changes