Timeline to your 1st withdrawal

## The full picture: From launching your round to your 1st "rolling" disbursement (withdrawal) A "rolling" withdrawal = **A withdrawal of funds while your raise is active and open.** The 21 days after your Form C is filed is a critical period. Here's what happens and, if you'd like, what you need to do to get your money while your raise is open. ## Before Form C: Reservations Before your Form C is filed, you can take reservations from investors - basically placeholder commitments that they intend to invest. These reservations don't guarantee anything yet, and we are not legally allowed to hold any funds in escrow during the reservation phase. If an investor transfers funds during this phase, it will go to their Wefunder Cash wallet and sit there until after the Form C is filed. ## Step 1: Form C is filed and you're officially launched Congratulations! Your Form C is on file with the SEC, and your round is now officially launched for real investments. Form C filing is what transforms those reservations into actual investment commitments. Right after this happens, we'll reach out to schedule a **15-minute closing call** with you. Don't skip it! ### Your closing call covers: - How withdrawals actually work - Your specific timeline and what to expect - Answering any questions you have about the coming 21 days - Making sure you know what you need to do to get your first disbursement Think of it as your one-on-one walkthrough of everything that's about to happen. ## Step 2: The 21-day SEC waiting period (Days 1-21) The SEC requires a 21-day waiting period after your Form C is filed. This isn't something we can skip or shorten. It's a hard requirement. **During these 21 days, you have three critical things to complete:** ### 1. Raise your round's minimum This one's important: you need to raise at least your round's minimum amount. However, **if you don't hit your minimum by the end of day 21, that's totally fine.** You just won't be able to get your first disbursement until you do. At this point in the process, we are allowed to collect funds from investors for their investment. Once you hit your minimum (whenever that is), you become eligible to request your first withdrawal. If you're getting close to your minimum by day 21, this is a great time to reach out to any wavering investors and close them. ### 2. Collect your lead investor's investment Your lead investor needs to have their money in our escrow account. Whatever amount you two agreed on, it needs to be confirmed and funded by the time you want your first disbursement. If your lead investor invests off platform (which is allowed), we will need a copy of their contract showing they completed their investment under the same terms. ### 3. Share your wire information Go to your Withdrawals page: https://wefunder.com/[your-company]/withdrawals/wire_info. Just replace **[your-company]** with the name you used in your Wefunder campaign URL. Submit your banking details through Plaid. We can't process any disbursement without valid wire information, so get this done early rather than waiting until day 21. **Important: Besides waiting for the 21 days to pass after filing your Form C, your eligibility for your first disbursement depends on:** - Having raised your minimum - If your Reg CF campaign began before February 19, 2026, then your lead investor being funded - Valid wire information on file If any of these are missing when you request a withdrawal, you'll have to wait until you complete them before we can process the disbursement. ### Step 3: You're ready to request your first "rolling" withdrawal (e.g., a withdrawal while your raise is open) After day 21, you're eligible to request your first rolling withdrawal (assuming you've hit your minimum, your lead investor is funded, and you've submitted your wire info). You can request whenever you're ready. ## How the request-to-deposit process works Go to request a rolling withdrawal on your Withdrawals page: https://wefunder.com/[your-company]/withdrawals. Again, just replace **[your-company]** with the name you used in your Wefunder campaign URL. Here's what happens: ### 1. We review your request When you submit a withdrawal request, our team reviews it to make sure everything looks good. We review requests every Monday and Tuesday. Either we approve it, or we reach out with notes if something needs to be fixed (like if wire info is incomplete, for example). ### 2. We identify your disbursement date Once approved, we identify an available disbursement date and show it to you in the app. This date could be the Friday of the following week, or it could be the Friday after that - it depends on our schedule and capacity at that time. You'll see the scheduled disbursement date right in the withdrawals page, so you'll know exactly when to expect your funds (barring any changes from investor opt-outs or other issues). **Pro tip:** If you want the best chance of being scheduled for an earlier date, submitting your request by Monday gives you the best shot. But we can't guarantee a specific timeline, so submit whenever you're ready. ### 3. Investors get opt-out notifications We send opt-out notifications to all investors who would be included in your withdrawal. This happens approximately 7-8 business days before your scheduled disbursement date. ### 4. The 5-business-day opt-out period Investors have 5 business days from when they receive the notification to decide whether they want to opt out of this particular withdrawal. During this time, you'll see your withdrawal status show "Opt-Outs" on your Withdrawals page. Some investors might opt out. That's normal. Their funds can be available for your next withdrawal. ### 5. We finalize the amount Once the opt-out period closes, we finalize everything and confirm your actual withdrawal amount in the app. This amount might be different from the initial estimate if investors opted out. ### 6. Wire transfer is sent On your scheduled disbursement date, we queue the wire transfer to your bank account. Depending on your bank, it typically takes one to two business days for the funds to reach your account. ## After your 1st withdrawal The process gets faster after your first withdrawal: - You need at least $50k in "ready" funds - You can request every four weeks - The same review and opt-out process applies - Monday deadline still applies if you want the following week's disbursement ## Have questions? If you're unsure about any part of this timeline or when you're eligible to request, reach out to closing@wefunder.com. We're here to help.