> For the complete documentation index, see [llms.txt](https://gabriel-j-shapiro.gitbook.io/metalex-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://gabriel-j-shapiro.gitbook.io/metalex-docs/protocol-how-to-guides/convert-safe-to-equity.md).

# Convert SAFEs to equity

When a cyberCORP runs a priced round, outstanding SAFEs convert to equity. The `SafeCertificateConverter` computes the conversion plan from round data.

> **The `SafeCertificateConverter` is currently a stub** — the body of `computeConversion` is commented out in the source and the function returns an empty plan. This guide describes the intended use; do not rely on it for live conversions until the implementation lands. See [SafeCertificateConverter](/metalex-docs/protocol-reference/contracts/safecertificateconverter.md).

## Intended usage

```solidity
import {ICertificateConverter} from "src/interfaces/ICertificateConverter.sol";

ConversionPlan memory plan = ICertificateConverter(CONVERTER).computeConversion(
    roundManager,   // the RoundManager running the priced round
    roundId,        // bytes32 — the priced round
    certPrinter,    // the SAFE cert printer
    tokenId         // the SAFE cyberCERT to convert
);
```

The converter reads the SAFE cert's `investmentAmountUSD` and `issuerUSDValuationAtTimeOfInvestment`, the round's price and cap-table snapshot, and applies the round's rounding policy to produce a share count and target class/series.

The resulting plan is then executed by issuing the new equity cyberCERTs through the IssuanceManager (see [Issue a cyberCERT](/metalex-docs/protocol-how-to-guides/issue-a-cybercert.md)) and voiding the SAFE certs.

## Related

* [SafeCertificateConverter](/metalex-docs/protocol-reference/contracts/safecertificateconverter.md), [RoundManager](/metalex-docs/protocol-reference/contracts/roundmanager.md).


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