We are currently waiting for our financials to be reviewed before we can complete the Form CF filing, which is necessary to finalize the crowdfunding campaign. Initially, we expected to prepare the financials by late last year. However, other competing business priorities, such as day-to-day accounting, reporting, and property audit processes, caused a delay. Fortunately, this delay will not negatively impact investors as the deal terms remain unchanged.
As for next steps, potential investors are able to take the following actions:
Action 1)
If you are an accredited investor, please update your accreditation on the Wefunder platform by using the below steps:
Navigate to this URL: https://wefunder.com/settings/investor_limits
Click on Accredited Status
Add your accredited qualification
To find out if you qualify as an accredited investor go here.
Action 2)
Your reservation will not be finalized until Arrived has filed Form C with the SEC. In the meantime, you have the option to connect your bank account and wire at or below $500 to your Wefunder cash account. The money is held in Wefunder's third-party banking partners, First Citizens Bank and Thread Bank.
Login to Wefunder and navigate to https://wefunder.com/cash
From here, you will be able to ADD A NEW BANK ACCOUNT via Plaid
After you have connected your bank account, you can then select you Bank Account, send to Wefunder Cash and then enter at or below $500.
If your Wefunder Cash account isn't funded already when it’s time to convert your reservation into an investment, we'll provide instructions on how to pay for your investment with a bank, credit card, mailed check, or wire transfer.
Update On Max Investement Amount
Due to the extraordinary demand for this equity fundraise, we’ve worked to double the maximum raise amount for this community round, increasing it to $1,000,000 from the initial goal of $500,000. While we’re thrilled about this development, we are constrained from further increasing our investment allocation any more than that. We will keep the community funding interest in mind for future rounds, as we know many of our valued investors would like to contribute more than the original cap allowed.
In an effort to ensure fairness and provide an opportunity for all interested parties, we have set a maximum investment amount in the Wefunder campaign to $500 per investor.
If you have any other questions, please feel free to reach out to support@arrived.com.