Co-authored with Alixe Cormick
De-Mystifying Minimum, Maximum, 'Keep it All' and
'All or Nothing' Offerings
Securities regulators and those active in the financial industry
seem to have their own secret language. Sometimes it can be
difficult for companies and investors to understand what it all
means. In this article, we are going to de-mystify various terms
which describe how much money a company can keep when crowdfunding.
In particular, we are going to discuss what it means when a company
says it is conducting a 'minimum', 'maximum',
'keep it all' or an 'all or nothing' offering.
The 'minimum
offering or 'target amount' means
the minimum amount of capital a company must raise in an offering
before it can keep the money from investors and close the deal.
Sometimes it is also called an
'all-or-nothing' campaign. A company must
return any money received from investors if it does not raise the
specified minimum amount. In that case, it is a failed
