At a later date, the investment is converted into shares, usually when an anticipated follow-on funding round is completed. The follow-on round may be carried out with Crowdcube, or it could be a venture-capital investment or another form of funding round.
Although the terms of a convertible can vary from business to business, typically if no follow-on round happens, investments will be converted into shares on the agreed long-stop date and at an agreed long-stop valuation.
Crowdcube will then issue shares to investors. You can keep track of the process in the Portfolio section of your Crowdcube account. We will send an email when your share documentation is available to download through your portfolio.