> For the complete documentation index, see [llms.txt](https://docs.tactyc.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tactyc.io/portfolio-management/managing-rounds/warrants.md).
# Warrants
## **Method 1: Adding a new round for Warrants**
Add an **New Round** to account for the warrants.
* **Security Type:** Other
* **Investment Amount:** Price paid for warrants
* **Round Size:** Same as investment amount
* **Valuation:** The implied valuation of the company at the exercise price
You may also choose to enter data in the Share Mode where you can specify
* **Share Price**: Exercise Price
* **Shares Purchased:** Shares purchased via warrants
* **Total Shares Owned:** Total shares owned post-warrants exercise
* **Total Shares Issue:** Shares purchased via warrants
* **Fully Diluted Shares Outstanding:** Shares outstanding at the company after warrant exercise
The aggregate valuation of the company will reset to the exercise price, so the next step is to add a **Valuation Update** event to recalibrate the aggregate valuation to the current aggregate valuation.
## Method 2: Ownership Update
Alternatively, you can also simply add [an Ownership Update event](/portfolio-management/managing-rounds/updating-ownerships.md) to reflect the new ownership in the company post-warrants. In this approach the price paid for the warrants is not captured in the invested amount into the company.
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