When do I close my successful fundraising campaign?
You must wait until your minimum funding target has been met, and at least 21 days have passed, before initiating the close of your campaign.
After Your Campagin
What happens if a material change occurs?
If a material change in your business has occurred during your fundraising, you must disclose it to your investors before you close the round. All investors must then reconfirm their investment within 5 days of receipt of the notice. A material change is anything a reasonable person would think should be disclosed to investors because …
What if my campaign fails?
If your campaign fails, investors get a refund. You can run a new campaign 60-days after the original campaign closes. You can use this time to gain more interest, improve your numbers, and do anything that might boost your investments for the new campaign.
Can I extend my funding deadline?
Yes, under certain circumstances, this is possible. However, extending your deadline is a material change that requires all of your investors to reconfirm their investment. But it is still a better option than having a failed campaign.
Will investors contact me directly?
We do not hand out your contact information, but there is an online Q&A tool built into your offering page that you will be using to answer investor questions.
How often should I update investors?
Ongoing communication with investors and regular updates are important to keep your investors happy about their investment in you and your company. The better you communicate the happier they will be and more likely to invest more and tell others about you — so do this often and do it well!
How long does it take to get the money?
The funds get wired to you within 10 days after your round closes. You may also do a rolling close or a series of rolling closes, and have funds start being wired to you at predetermined increments starting after you reach your minimum funding goal.
Do I need to file an annual report?
Yes, you need to file an annual report with financial statements and a discussion of your business, no later than 3 months after the end of the fiscal year. If you neglect to file a report, you will be unable to fundraise with Regulation Crowdfunding again until you file the annual report.
