Equity crowdsale: what’s next?

Here’s a breakdown of next steps and what to expect.

In case you missed the big news from the weekend: the BABB equity crowdsale closed at 11:59pm on Saturday 18 August, with total investment coming in at just over £1,550,000 from 1,452 investors.

We’re delighted to have been successfully funded and are very grateful to all of our new shareholders for their support.

What’s next?

There is a lot happening over the next few weeks. Here’s everything you need to know if you invested in the equity crowdsale.

Follow-up info

There now follows a seven-day period in which Crowdcube will send out additional information, including articles of association. This is an official document which outlines BABB’s responsibilities as a business to you as a shareholder. Please read it carefully and get in touch if you have any questions.

Confirming your ID

Crowdcube might also contact you to submit ID for KYC and AML checks. In most cases they perform these checks automatically but some investors will need to supply additional documentation.

If you’re in any doubt about whether you need to submit any documentation, we advise logging into your Crowdcube account or contacting the customer support team.

We’re also on hand to help if you need us; you can chat to the team in the dedicated equity crowdsale telegram group or email us at crowdsale@getbabb.com.

Making the payment

If you pledged via credit or debit card, your investment will be taken automatically early next week.

If you pledged to invest via bank transfer, Crowdcube will contact you about arranging the payment. You can also refer to our previous blog post for further instructions.

Receiving your shares

Once you have passed KYC and made your investment, your shares will be automatically distributed to your Crowdcube account within 2–3 weeks. You will be able to view and manage your portfolio through your account on the Crowdcube website.

You will also receive an official share certificate confirming you as a shareholder in BABB Group Ltd. Please enjoy it and keep it safe!

BAX bonus and airdrop

Once Crowdcube has confirmed payment from all investors, we will receive email addresses for all participants. We will then be able to get in touch directly regarding claiming the BAX bonus and airdrop.

If you already have an account on getbabb.com (from the token sale), you will automatically receive your BAX bonus and airdrop into this account. Please note that if the email address linked to your Crowdcube account is different to the one linked to your BABB account, you will need to let us know.

If you don’t have a BABB account, we will contact you directly with instructions to open an account on getbabb.com. You will need to open this account in order to claim the BAX bonus and airdrop.

The BAX bonus is payable to all equity crowdsale investors and is dependent on the amount invested. The BAX airdrop is distributed to all those who participated in the BABB token sale as as well as all those who invested in the equity crowdsale. All recipients will recieve the same number of tokens in the airdrop and we’ll contact you nearer the time to confirm the airdrop amount.

Sharehodler merch competition

We recently selected the winners of our sharehodler merch competition and everyone who took part in the competition has received an email letting them know whether or not they were among the winners.

The last of the merch orders is due to arrive this week (following a delay; thanks for bearing with us) so we’ll distribute the prizes to the winners as soon as we can.

Perks and rewards

Speaking of merch — we will also contact investors in the coming weeks about claiming the perks they’re eligible for as a result of their invested amount.

All investors are eligible to get early access to the alpha app (subject to a waiting list) and we’re also offering t-shirts, access to events and other perks to those who invested higher amounts. Stay tuned for more details coming soon.

Banking license update

As you probably know, the funds raised in the equity crowdsale will be used to meet the minimum capital requirements of banking licenses which BABB is currently in the process of applying for. Look out for an update from Paul coming this Thursday about our progress with these applications.

Many, many thanks again to each and every investor, and everyone who has lent their support to the BABB project along the way. We’re very excited for the next chapter!