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What will happen when the funding goal is reached in a Regulation Crowdfunding offering?
Last Updated: Nov 04, 2019 07:39

When the funding goal is reached prior to the deadline identified in its offering materials and the issuer decides to have a closing, it could close the offering once the target offering amount was reached, provided that:

  • 1. the offering had been open for a minimum of 21 days;
  • 2. the intermediary provided notice about the new offering deadline at least five business days prior to the new offering deadline;
  • 3. investors would be given the opportunity to reconsider their investment decision and to cancel their investment commitment until 48 hours prior to the new offering deadline;
    and
  • 4. at the time of the new offering deadline, the issuer continued to meet or exceed the target offering amount.
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