In case you haven't seen it, we've been posting periodic closing updates on the Legion M homepage. You can read the full blog post here, or see the latest update below. If you have any questions, feel free to send e-mail to [email protected].

11/1 - There is a light at the end of the tunnel!

Last Friday the SEC qualified our Regulation A offering, which is the underpinning of our plan to handle oversubscriptions from Round 3 (as well as the basis for our new round 4). Also, just yesterday we got the final list of Round 3 Reg CF investors from Wefunder which means we can FINALLY import them to Carta and send certificates to those folks (as you can see from the October 22 update, we were expecting this list nearly two weeks ago).

We’re sorry this has been such a long, drawn-out process, but unfortunately it’s par for the course. The laws that enable what we’re doing are still very new, and a lot of the infrastructure is still being developed. Wefunder and Legion M bend over backwards to do right by our investors (e.g. opening a Reg A to accommodate oversubscription from the Reg CF), but oftentimes that creates a lot of extra work and complicated dependencies. We’re getting better with each round (even with all the delays with round 3, we are MONTHS ahead of where we were at this point with Round 2), and are profoundly grateful for your patience and support while we iron out the wrinkles. Bumps like these are just one of the joys of pioneering a new frontier instead of sticking to well-travelled roads.

The largest external dependency now appears to be final legal approval of an omnibus escrow account with Boston Private Bank (the bank that handles our escrow, anti-money laundering checks, etc). We’re working through the final plan and timeline with Wefunder as we speak, and will provide an update once news is available,