This section provides information on the escrow closing process for a Regulation CF offering. You can initiate an escrow close for an offering from the Escrow page.
This is the amount Issuance, Inc. has sent to the escrow bank account.
This is the monetary amount of investments that have been made that are fully cleared and ready to be closed on.
This is the monetary amount of investments that have been made that have yet to be fully cleared and are ready to be closed on.
Before an escrow close can be initiated, there must be funds available for closing and the present date must be at or after the "First escrow close at or after" date.
To initiate an escrow close, click on the "Close Escrow" button in the upper right hand corner of the display. You will need to confirm that the target minimum raise has been reached as filed on Form C. You will also need to confirm that no material changes have been made to the offering.
To withdraw funds after a round of escrow has closed, click on the "Withdraw" button in the field for that particular round.
Once you initiate an escrow closing, there is a 5 day (120 hour) countdown that begins.
For the first escrow closing, North Capital will CALL the primary contact setup with North Capital (the contact is configured with North Capital at account opening) to confirm bank transfer details.
For all escrow closings, North Capital will circulate a docusign that must be completed before funds can be transferred.
For all escrow closings after the initial one, there is a $100 fee imposed by North Capital.
At the end of the countdown, a withdrawal of funds is initiated with North Capital.
If the closing was initiated prior to 11am PST / 4pm EST, the funds will typically be transferred the next business day. Otherwise the transfer will occur on the following business day. The funds transfer date depends on North Capital's ability to process the escrow closing and the bank being open (i.e. business days/hours) and is only an estimate for convenience and not guaranteed. Funds are sent by wire transfer and the transfer occurs same-day once it is processed by NC.
Last updated
