Reg CF Campaign Extension Policy

90 Day Extensions

Reg-CF issuers can extend the length of their offering in any increments up to 90 days as long as:

• Information on the issuer’s campaign page is up-to-date and has been certified by the CEO at the time of the requested extension
• The issuer is current with required annual reporting requirements (Form C-ARs) and has up to date financial statements on record*
• The issuer has behaved in a professional manner with respect  to StartEngine staff during their offering
• The issuer has demonstrated a strong desire to market their offering by taking one of the following marketing actions within the past 30 days: 
• They have engaged with StartEngine Promote or have run their own paid advertising to promote their offering 
• They have sent 3+ emails to their own email lists about their offering

• The issuer has achieved at least one of the following financial milestones:
  • The issuer has raised over $200k in the previous 180 days 
  • The issuer has raised an average of $30k/month in the last 60 days
  • The issuer has raised $30k+ in any consecutive 30 day period in the last 60 days

Exceptions

The following are exceptions to the rules above: 

• If the issuer fails to meet one of the financial milestones or marketing actions above, an issuer can receive a 1-time 30-day extension. 
• If the issuer’s campaign has been live on StartEngine for over 1 year, the issuer may not extend unless the issuer has met additional financial milestones including:
  • The issuer has raised over $500k before reaching the one-year milestone;
  • And either:
    • The issuer has raised an average of $40k/month in the last 60 days; or
    • The issuer has raised $40k+ in any consecutive 30 day period in the last 60 days
• StartEngine reserves the right to allow an issuer to extend their campaign under certain circumstances, including if the issuer has not raised enough funds to cover outstanding advances from StartEngine. 

*Note: Prior year financial statements, updating the Form C and Form C-AR filings are required no later than 120 days after the end of the previous fiscal year. If an issuer is looking to extend for any period beyond that deadline, but has not yet filed a C-AR and provided updated financial statements, the issuer can only extend to any period before the deadline. 

Rollout:

For issuers that launched after August 1, 2020, or are currently onboarding, this is effective as of February 1, 2021.

For issuers that launched prior to August 1, 2020, this new policy goes into effect on March 15, 2021.