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 **30-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 two 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. 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. 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, and be sure to upload an account statement (hard requirement). **In summary: 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 - 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 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 (typically 1-2 business days). 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 the earliest available disbursement date and display it for you in the app (typically 7 business days after your request is approved). You'll see the scheduled disbursement date right on the withdrawals page, so you'll know exactly when to expect your funds (barring any changes from investor opt-outs or other issues). Note: We can't guarantee a specific timeline, but we'll always do our best to schedule your withdrawal as soon as possible. ### 3. Investors get opt-out notifications Once we've approved your withdrawal request, we send opt-out notifications to all investors who would be included in your withdrawal. This starts the clock on the 5-business-day investor waiting period. ### 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, but rare. 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 - You need at least $30k in "ready" funds - The same review and opt-out process applies ## 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.