What are Amendments?
An amendment to your offering is required by the SEC for any changes to your offering. There are several cases where you will need to ask us to file an amendment with the SEC to allow your company to make material changes. If your change is a "material change" as defined by the SEC, that will require that all current investors will need to reconfirm their investment within 5 business days or their investment will have to be cancelled and refunded. Material changes include:
- Change the closing date
- Change the maximum raise goal (no fee)
- Change the minimum raise goal
- Change the minimum investment for investors
- Change the perks
To make those changes, there is a $1,000 one time fee paid upfront (except for change the maximum raise). Also, these changes require each existing investor who has deposited money in escrow to reconfirm their investment. This done by email and asking the investor to click and reconfirm. This step is handled by StartEngine. We have a very high reconfirmation rate as we send three separate emails and a make phone calls to those who have not yet reconfirmed their investment before the deadline.
Because of the effort and cost of filing a material change, it is best to have your campaign page 100% complete with no errors before filing with the SEC. Contact us at firstname.lastname@example.org to request a material change.
We recommend you speak to your attorney or our team about changes you want to make after your campaign is live to make sure that these are not material and do not require an amendment filed.