Whoops yes you’re right. I based my answer off the comments above! Have changed.
I have a question regarding the CLN. It was mentioned that some investors would get some preferred shares(limited number available). How is that distribution being made? Is it by investing order or all the crowdfunding Investors will be granted with the preferred shares? Are these preferred shares Series B shares with voting options?
It was one off the reasons why I invested in the CLN.
I’m pretty sure if you invested in the last CC CLN you won’t get preference shares.
This was in the CLN:
"Investors in the first loan note will receive Series B preference shares (or Series C preference shares if they convert as a result of a Series C funding round).
Investors in the second note will receive Series A preference shares."
Another 50k and Freetrade will reach £2 million for this round, 8 days left.
Get your tickets!
This will only help Freetrade.
That headline is misleading though, PFOF != Broker Commission
Seems they’ve just hit 2 million
What does that mean? Double the capital raised, or do people only get half what they asked for?
It means they will take double the amount they had originally set the goal for.
I think Adam said in the AMA Freetrade were hoping for £2m to £2.5m. The million target is just a Crowdcube marketing gimmick
Assuming a few pull out during the cooling down period, it looks like FT will have a clean £2M in the bag
The £2M raise value was a psychological number for me where I’d have pulled my investment in this round if it didn’t break that, so happy to see it heading clear
Join us on the webinar, starting at 7pm AMA community meetup - Crowdfunding 2023 - #8 by omarft
Just to confirm that in today’s AMA it was confirmed that all the shares from the CLN round will be converted as Series B preference shares.
Good news for CLN investors!
@acamp Is there a recording for the community meetup last evening for those who couldn’t attend in person? It will be great if that can be shared. Thanks in advance.
May I ask, what’s the significance of it being Series B preference shares
As I understand it, preference shares are first in line for any administration distributions. If FT failed and they had £5M left in the bank for example, preference shareholders would be made whole first.