What does it mean when a company is conducting a "close"?
For Regulation Crowdfunding, after 21 days if the Company has reached their minimum funding goal, they are able to conduct a "close" on their offering. The Company is required to give at least 5 business days notice to their investors before conducting a close, but after that period, all cleared and received investments will be moved to the Company's account and cannot be refunded.
What happens if the company does not reach their minimum investment?
If the Company does not meet their minimum offering, all investments will be refunded. Depending on when the investment was made, a refund can take up to 14 days.