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.