Legion M Closes Its Fourth Round of Investment
On November 16th, 2018, Legion M opened its fourth round of investment on Wefunder, and the response was overwhelming. With $2.5 million raised from 8,692 investors, this has been our most successful round to date.
This round saw investors from all 48 eligible United States, as well as 47 other countries around the world. The big winner in the States for contributing to this round was California, with 1,673 investors (almost 20% of the total) investing $565,106 (nearly 22% of the funds raised). Our biggest international investments came from Canada (43 investors, $14,035) and the UK (27 investors, $6,149), with India coming in third (6 investors, $2,650).
The average investment amount was roughly $305 a person, although the most common investment level was $100, with nearly half of investors choosing that amount. February 8th, 2019, saw the highest number of investments made at 474 for the entire day.
What’s next? If you invested in this round, you can expect your electronic stock certificate sometime in the next several weeks. The closing process can take a while to complete, so we appreciate your patience. Certificates will go out in batches, so not everyone will get theirs at the same time. So if you see others mention they got theirs already and you still haven’t received yours, don’t panic. They’re on their way!
We haven’t forgotten about the folks in Nebraska and Arizona who, due to securities laws in those states, were unable to invest before the round closed. We’re still working on a solution, so if you are in one of those two states and were unable to invest, please sign up here to receive an alert when we have a solution in place for you.
Several Legion M announcements fueled the fire for this round. Coming off the very successful release of critically-acclaimed Mandy in September, more than a million dollars was invested in the first two weeks of the round alone. Soon after followed the news that Legion M is investing in Kevin Smith’s new film Jay and Silent Bob Reboot (you can hear Kevin and Jason Mewes talk about it here). And our latest initiative Film Scout has seen tremendous success with over 1,500 participants and more than 30,000 votes cast. In fact, Legion M is pursuing deals based on the data even as you read this!
Legion M officially closed the round on Saturday, February 16th. If you missed out, or just want to be sure you don’t miss out on round five, be sure to make a reservation here. This doesn’t commit you to anything yet — it just ensures that you’ll be among the first to know when the round opens.
With so many incredible things going on at once, we couldn’t be more excited for Legion M’s future!