For the complete documentation index, see llms.txt
For the complete documentation index, see llms.txt
Wefunder
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Can I run a Reg D and Reg CF at the same time?
Yes, concurrent Reg D and Reg CF is allowed, with one important compliance distinction:
- Reg D 506(c) + Reg CF: Fully compatible. Public solicitation is allowed under 506(c), so you can promote both simultaneously. However, Wefunder does not support 506(c) SPVs. You can take direct-to-cap-table checks in 506(c), either off-platform or on-platform using our invite links, while running your Reg CF.
- Reg D 506(b) + Reg CF: The 506(b) prohibits public advertising. While open, you cannot make public posts announcing the upcoming CF round or terms — this would violate 506(b)'s restrictions. Wait until the 506(b) closes before promoting the CF publicly. If you promote the CF while the 506(b) is public, you will be legally required to close it immediately.
On limits and counting:
- Money raised in Reg D does NOT count toward the Reg CF offering limits. You can raise as much as you want under Reg D with no financials, and those amounts are tracked separately from the CF cap.
- Off-platform Reg D investments can be reflected in the Wefunder campaign total even if raised outside the platform, so long as they are on the exact same terms being offered for the Wefunder raise.
