Retail investors will receive a 5 business day cooling off period (starting the day following your investment application) to cancel their investment application. After the 5 day cooling off period has expired, retail investors will be unable to withdraw their investment.
After the 5 cooling off period expires, your investment application is a contractual agreement between you and the company which you agreed to when you applied for shares, and the company can pursue this payment for your investment if they would like to.
In the scenario where a replacement offer document is issued from the company (during an Equity Crowdfunding raise on Birchal), retail investors receive a 30-day cooling off period from the day it is released. This provides retail investors an opportunity to reconsider their investment.
Sophisticated and Professional investors that invest more than AUD10k are not entitled to the 5 day cooling off period.