Cicada Fair Launch: Investment Clarification
Summary
The Cicada community announced clarification regarding their Fair Launch investment process, specifically addressing contributions made after the $1.8M soft cap. This announcement confirms that all investment contributions, regardless of timing relative to the soft cap, will receive a pro-rata allocation if the fundraise is oversubscribed. This is important because it assures all participants that they will receive a portion of the investment, with excess funds being refunded, until the $18M har...
Fair Launch Clarification🚨
🔎All investment contributions after the $1.8M soft cap will be eligible to receive an allocation.
🔎Excess subscription funds is an indication of an oversubscription status for the fundraise.
🔎In the event of excess subscription funds, all participants will receive an allocation on a pro-rata basis no matter at which point you have made the investment (before or after the $1.8M cap).
🔎E.g. Total Investment = $18M, Bob invests $1,000. Because their is a 10x oversubscription: Bob will receive a $100 allocation and $900 will be refunded to him.
🔎Once the $18M Hard Cap is reached, no more investment participation will be possible. @Cicadian
