UPDATED: Round 3 Closing Update
UPDATE OCT 8, 2018: Wefunder has sent out cancellation notices to everyone who did not complete or had some issue with the investment process. So at this point you should have received either a cancelation notification from Wefunder, or an e-mail update from Legion M stating that all is well. If you haven’t received one of these, please reach out immediately to firstname.lastname@example.org.
We expect to import another set of investors into Carta this week. Once that is complete we will e-mail everyone else who is still waiting to give you an update on the process. Thank you so much for all your patience!
ORIGINAL POST DATE SEPT 17, 2018:
Legion M’s third round SOLD OUT faster than any in company history. Our max limit under Regulation CF was $902,000 but we ended oversubscribed with more people wanting to invest than we had room to accommodate. In accordance with our NO FAN LEFT BEHIND philosophy, we’ve filed for a Regulation A offering to accommodate the extra demand. We are committed to ensuring that EVERYONE who attempted to invest in Round 3 prior to the deadline has the opportunity.
Ever since Round 3 ended, Wefunder has been working diligently to run all the necessary checks and complete the work required to officially close the round. For previous rounds, this has taken as long as six months; fortunately Wefunder has made significant strides at reducing this lead time. On September 11th, 6 weeks after the end of the round, we sent out an e-mail from Carta.com (our registered transfer agent) to approximately HALF of the round 3 investors. We expect to send out the remainder within the next few weeks.
If you were in the first batch, you should have received an e-mail inviting you to accept your shares into your Carta account. If you don’t already have an account at Carta.com, you will be prompted to create one. This is all free to you—Legion M covers the costs.
If you did NOT received a notification from Carta, please don’t despair! It just means that you are in the second batch, and you should expect to hear from us within the next couple weeks. If, when the second batch goes out, you STILL don’t receive a notification, then we’ll be happy to investigate further. As always, we’re committed to ensuring that NO FAN GETS LEFT BEHIND!
Thank you for bearing with us as we go through this process. With over 4,000 investors in Round 3, we are over 10X larger than most other companies on Wefunder. That’s GREAT news for Legion M and our investors, but it does lengthen the closing process. We appreciate your patience. If you have any questions, feel free to contact us at email@example.com.
NOTE ABOUT CARTA CERTIFICATES:
Carta.com (formerly eShares) is Legion M’s registered transfer agent. That’s where we maintain our Cap Table, which is the official record of who owns each share in the company. If you invested in Round 1 or 2, you should have received an invitation to accept your shares long ago. If you haven’t, please check the email address you use for your wefunder.com account (don’t forget to check your spam filter) for an e-mail from Carta.com. If you can’t find the Carta e-mail, please contact us at firstname.lastname@example.org and we’ll be happy to investigate.