Record breaking crowdfunding

Lowndes Jordan is pleased to have advised
Waiapu Investments Limited on its very successful crowdfunding campaign.
Waiapu looks to invest in
economically, socially and environmentally sustainable businesses based in Te
Tairāwhiti (the East Coast region). Its first investment opportunity is in
Hikurangi Cannabis Company Limited, which aims to be a leading
medicinal cannabis research and cultivation business in New Zealand.
The Financial Markets Conduct Act 2013 limits the amount that a company can raise in a crowdfunding
campaign to $2 million in any 12 month period. Using PledgeMe’s equity
crowdfunding platform, Waiapu's campaign included two stages of
crowdfunding: a private roadshow to give local communities the first
chance to invest, followed by a nationwide public
campaign.
In its private roadshow, Waiapu raised almost $1.4 million. At the public launch, Waiapu then effectively reached its cap of $2 million within 10 minutes of launch
(according to PledgeMe). This timeframe was PledgeMe’s record to date in
terms of equity crowdfunding and the campaign also held the record for temporarily
crashing PledgeMe’s website twice in two days due to overwhelming public demand!
Congratulations to the team at Waiapu. And it's not over yet. Waiapu continues to be open to assessing applications from qualifying investors.
Michael Busch led the Lowndes Jordan team
advising Waiapu Investments Limited and was ably assisted by Associate, Joshua Woo.
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