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Tag Archives: Sara Hanks

Legion M Closes Over-Subscribed, Record-Setting $1 Million Equity Crowdfunding Campaign on Wefunder Portal

16 Aug

World’s first fan-owned entertainment studio leads the JOBS Act field with 3,000+ investors and significant demand above and beyond the $1 million cap allowed by the SEC’s JOBS Act Regulation CF

 By Robert Hoskins

Silicon Valley, CA – Legion M, the world’s first crowdfunded and now fan-owned entertainment company, announced they have raised one million dollars via their Title III crowdfunding offering on Wefunder. The Company raised the funds in less than three months from a record breaking 3,000+ investors, making it the most popular Reg CF company in the short history of Title III of the JOBS Act. At the time of closing, Legion M was also the number one company in terms of total investment interest and demand, with significantly more demand above and beyond the $1 million dollar funding cap allowed by the SEC, which leaves outstanding appetite for Legion M stock even after the round is closed.

Legion M Closes Oversubscribed, Record-Setting $1 Million Equity Crowdfunding Round on Wefunder

Legion M Closes Oversubscribed, Record-Setting $1 Million Equity Crowdfunding Round on Wefunder

“Legion M shareholders worldwide are celebrating this significant milestone we achieved together. We are truly inspired by their energy, passion and unbridled support. This Legion of dedicated fans have rallied behind us and our movement to make our mark entertainment industry,” said Paul Scanlan, CEO and co-founder of Legion M. “We are grateful to the JOBS Act for the innovative reforms that make this possible. Today we made history, and this is only the beginning.”

 Legion M’s creative partners currently include Stoopid Buddy Stoodios, the team behind Robot Chicken, 42 Entertainment, Meltdown Comics and Alamo Drafthouse.

 “I was impressed with how Legion M’s fans rallied to help them hit the one million dollar milestone eight days early,” said Nick Tommarello, CEO and co-founder of Wefunder. “We designed Wefunder for companies looking to build a stronger relationship with their most passionate customers, who are eager to help their favorite companies succeed. It was great to see how well it worked with Legion M’s well over three thousand investors.”

 “With more than three times the number of investors as any other Reg CF offering, Legion M has set the bar for Title III,” says Sara Hanks, a definitive authority on the JOBS Act and CEO of equity crowdfunding specialists CrowdCheck. “The real power of equity crowdfunding is having an investor base that can increase the value of your company, and Legion M is one of the best illustrations of that so far.”

“Having raised in excess of $100 million from VCs and angel investors for previous companies, we can attest that equity crowdfunding is a game changer,” said Jeff Annison, Legion M president and co-founder. “It’s not just a way to raise money–it’s a whole new paradigm for building a company.”

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The State of Equity-Based Crowdfunding…Primed, Capitalized and Waiting on the SEC

17 Feb

Capitol Hill Briefing on the
State of Equity-Based Crowdfunding

Please Join  for a Capitol Hill Briefing on:

WHO:            Small Business & Entrepreneurship Council

WHAT:        The State of Equity-Based Crowdfunding
                       …Primed, Capitalized and Waiting on the SEC

WHERE:     Washington, DC – The Capitol:  HVC 201 A & B

WHEN:        Tuesday, February 19, 2012 from 12:00 p.m – 1:30 p.m.

WHY:           Attend Crowdfunding Panel Discussion 

Moderator: Karen Kerrigan, President & CEO, SBE Council

Panel of Crowdfunding Subject Matter Experts:  

RSVP by February 15:   rsvp@sbecouncil.org  Please provide Full Name, Title and Association or Member/Committee Office

Purpose of Crowdfunding Briefing:

At this February 19 briefing, the nation’s principal leaders and experts on equity and debt-based financing will provide an in-depth review of the extensive build out and preparation that has taken place to help entrepreneurs’ access capital through online platforms, while protecting the investors who will finance these enterprises.  The group will touch upon the global advancement of equity-based crowdfunding, the significant challenges entrepreneurs still face in accessing capital and why it is vitally important that the SEC finalize JOBS Act rulemakings.

JOBS Act Background:

President Obama signed the Jump Start Our Businesses Start Up Act (JOBS Act) on April 5, 2012, which among other smart reforms to outdated securities laws, made equity-based crowdfunding legal.  The Securities and Exchange Commission (SEC), however, has missed important deadlines in issuing rules that will govern this promising and transformative marketplace for entrepreneurs.

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