Target Hit & More Time to Invest
I would like to say thank you on behalf of all of the team here at Siren for the fabulous response to our crowdfunding raise. As you may have seen, we hit the 100% mark yesterday afternoon with 5 days to spare.
It has been a huge undertaking and a lot of work to get to this point, and whilst we would love to take a small breather, our business doesn’t work like that!
For those that met me at our Q&As, or had a look through some of the more detailed questions in the discussion part of our pitch, you will know that our minimum capex spend for the projects we have been crowdfunding for is £1.2-£1.3m. It was always our belief that we had put together a pitch and valuation that should allow us to exceed the base £750k target we set.
Essentially, everything we can raise between now and when we close enables us to do two things.
Firstly the more we can raise, the better equipment choices we can make. This will further future-proof the assets. Secondly, a higher crowdfunding raise means we’ll need less asset finance, which will minimise pressure on the business in the next few years.
Crowdcube has kindly offered us a range of options to extend the campaign, as I’m sure you will have seen happening with other pitches - both fully funded or not. We're still attracting lots of activity on the pitch and very consistent investment levels.
We are very keen to get on with the projects at hand, and I know many of our investors are keen to close out too, especially for those who pledged in the early days before we went public. So with all that in mind, we have decided to extend just a further two weeks and two days (we’re advised to close on a Sunday). This will make our final deadline Sunday 9th December.
Once again, thank you so much from all the team here at Siren!
If you're thinking of investing, or perhaps looking to increase your investment level, here are some links you may find useful:
Sirens Awaken - We Are Crowdfunding - A blog post announcing our decision to equity crowdfund with some background on how we got there. Click here to read »
Crowdfunding - The Big Questions - A blog post digging into some of the questions that we've found people are most interested in across our Q&As and investor discussions. Click here to read »
Pitching at Crowdcube Live - A video of Darron introducing Siren in 2 minutes at one of Crowdcube's investor evenings. Click here to watch »