What is a waitlist?
If a company has reached their maximum funding goal (oversubscribed), you can submit an "indication of interest" to join their waitlist.
An indication of interest is similar to a reservation. It’s a non-binding commitment, that allows you to be placed on a waitlist for any offerings that are oversubscribed (or have raised more than their maximum funding goal).
This is not an investment and does not guarantee a place in the offering. If your indication of interest is accepted, you will be notified to sign your binding agreement. You will have only 72 hours to sign the approved indication of interest. If you do not sign the agreement within 72 hours of being notified, you will be bumped to the bottom of the waitlist. If your binding agreement is pre-signed, the investment will automatically get pushed through once off the waitlist.
Will I be charged for submitting an indication of interest?
No, you will not be charged when an indication of interest is submitted. You will only be charged if your indication of interest is pushed through to be invested.
Can I cancel my indication of interest?
You can cancel your indication of interest at any time up until 48 hours before the target deadline. If you cancel your indication of interest, you will lose your place on the waitlist.
When will I become an investor in this offering?
You will not become an investor in this offering unless your indication of interest is accepted and pushed off the waitlist and you sign your binding subscription agreement via email, within 24 hours of notification. There is not a defined timeframe, as to when/if your indication of interest will be accepted. StartEngine will only push investor’s through to the next phase if space becomes available in the round. For more information, visit our educational page.
How can I tell if an offering is oversubscribed?
If you head to the companies campaign page, which can be found on the Explore Page, you will see the option to "Join the Waitlist" where you would normally see "invest now" (see screenshot below).
How can I tell if my investment is on the waitlist?
To view your investment status, please head to https://www.startengine.com/dashboard/investments/all. If your investment is on the waitlist, the status will be "Waitlisted (offering oversubscribed)" (see screenshot below).