There is 2 scenarios when a company meets it's deadline.
1 . The company has met it's minimum target
2. The company has NOT met it's minimum target
Below, we've explained the process on what happens after a raise meets its deadline. Covering when investors get issued the shares and when a company will receive the investment funds.
The company has met it's minimum target
After the deadline has expired, all confirmed (and approved) investments will be processed. We collect payments immediately after the raise - and we currently process these through Direct Debit (in Australia) or through bank transfer (for international payments)
- Direct Debit
We notify all investors, via email, 3 business days in advance of capturing funds through direct debit. Once we receive the funds, we will send a confirmation email. Note: this can take up to 3 business days.
- International Bank transfer
For international investments or bank transfers, the investor must login to birchal.com and visit the My Portfolio page to view the details required to make the transfer.
Allow 3-5 business days for the transfer and reconciliation.
Once we receive the funds, we will send a confirmation email.
- Issuing Shares, Settlement and Completion
Once we've confirmed the majority of investment payments - we start the settlement process. We'll provide the company with a full listed of paid investments and we will request the company to issue the shares to each of their new investors right away.
Once we've verified the share certificates have been issued - we'll settle the investment funds to the company via a bank transfer. This completes the round of investment.
The company has NOT met it's minimum target
The investment will not proceed and all approved investments will be cancelled immediately after the deadline. All paid investments will also be refunded.