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by Startups.Studio

Finance Instrument

Instrument.exercise

POST /{namespace}/instruments/{instrument}/exercise

Exercise buys the Shares an option or warrant covers at its strike price, up to what has vested.

Noun: Instrument
Mode: do
Event: Instrument.exercised

You, to your agent

Exercise the latest instrument.

curl -X POST https://api.sb/patentpad.com/instruments/instrument_1/exercise \
  -H "Authorization: Bearer $STARTUP_BUILDER_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{"quantity":1}'

import { $ } from 'startup-builder'

const { share, instrument } = await $.Instrument.exercise({ instrument: 'instrument_1', quantity: 1 })

npx startup-builder do Instrument.exercise --json '{"instrument":"instrument_1","quantity":1}'

{
  "name": "do",
  "arguments": {
    "code": "return await $.Instrument.exercise({ instrument: 'instrument_1', quantity: 1 })"
  }
}

Inputs

Input	Type	Required	Description
`instrument`	Instrument	required	The option or warrant.
`quantity`	`integer`	required	How many Shares to buy.

Outputs

Output	Type	Required	Description
`share`	Share	required	The Shares bought.
`instrument`	Instrument	required	The Instrument, now exercised.

Effects

Emits Instrument.exercised.
Performed by the Legal Lead.
One-way (money): it waits out its delay window, and runs in the send and do modes.

Refuses when

Check	Error	Fix	Then call
The key is valid, but its scopes do not allow this operation.	`forbidden`	Use a key whose scopes cover the operation, or ask an owner of the namespace to grant them.	Instrument.exercise

When it waits

Gate	Default
Decision class	Medium: one-way, bounded (money)
Delay window	1 business hour, in which a watcher can pause, redirect or cancel it; then it runs.
Limit	The spend Limit of the Permission or Mandate it runs under.
Over the Limit	It waits `pending` for an Approval from the Founder. Approved, it runs; refused, it ends `refused` with `limit-exceeded`; unanswered by its deadline, it ends `canceled`.

Instrument.convert

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