We typically market our offerings for 3 weeks or until an offering is fully allocated. We begin accepting funds at the end of this period. If there is significant demand for the offering we will begin accepting subscriptions immediately and you would have until the Deadline for Confirmation, as listed on the Offering Document, to submit a completed subscription.
By signing a term sheet you are reserving an allocation and must complete the investment process before the Deadline for Commitment. You will be subject to a $500 termination fee if you cancel your investment after completing the investment process. The investment process is completed once you have clicked “Submit” from the Transaction Summary page. While your investment is subject to the Termination Fee, an indication of interest or Term Sheet is not binding.
In most cases, we send a 7-day notice before the funds’ transfer date. We do our best to determine this date while we are collecting subscriptions. The funds’ transfer date is determined by whether we anticipate the Right of First Refusal to be waived or if we are not sure whether the company will or will not waive the Right of First Refusal.