Equity crowdsale: complete!

We’ve officially closed the funding round from Crowdcube. Phew.

We are delighted to tell you that the equity crowdsale is complete. We have officially closed the funding round at £1.4 million and all 1,232 investors have just become new shareholders in BABB.

If you invested in the equity crowdsale, we’d like to thank you for your support of the BABB project. The funds raised will be used to support our banking license applications in Lithuania and the UK.

We’d also like to thank all investors for their patience during the process of closing the sale and collecting investments. It has taken longer than we anticipated, so thanks for bearing with us.

Statement of beneficial ownership

Crowdcube is soon to provide our team with a full list of all investors and their contact details.

As soon as we have that list, we will be able to proceed with the legal work of filing new shareholders. Our legal team is poised to get this done as quickly as possible.

Once this is done, we will issue a share certificate to Crowdcube, which is the nominee for all investors who bought shares via their platform.

Next, Crowdcube will issue electronic statements of beneficial ownership (equivalent to a share certificate) to all investors. Once you receive this, you will be able to view your shares in the portfolio section of your online account on the Crowdcube website.

We hope to get all of this admin done as fast as possible, so that our new shareholders can get hold of the documentation next week. We’ll keep you updated with our progress, and look forward to welcoming you officially.

BAX bonus and airdrop

With access to the list of shareholders and the amount pledged, we will also be able to calculate the BAX bonus payable to each investor and work out how much BAX is available to distribute in the airdrop.

We’re working with the technical team to coordinate the distribution of BAX to people’s wallets, and we’ll be in touch with instructions soon.

Perks and rewards

We promised various perks and rewards (including free accounts, access to events and exclusive branded merch) to all BABB shareholders, with different items available depending on the amount invested.

As you can imagine, ordering branded merch for 1,231 investors (and packing and mailing it to countries across the world) is not a fast job. We will send all perks and rewards as soon as we can, but please be aware that your merch may not be with you until next month.

Questions?

If you have any questions about your investment, please email crowdsale@getbabb.com or talk to us on Telegram.