Dear SONDORS Supporter,
I’m sure everyone is getting curious about how things have been progressing since the end of our wildly successful campaign. Here is the latest:
Since the end of the campaign, the StartEngine team has been working tirelessly to sort out the 1,700+ investments. And, due to the overwhelming success of our campaign, we had a large number of over-subscriptions, leaving a lot to filter through. This includes reaching out to investors to complete their investment, waiting for investments to clear, and refunding all of the over-subscribed investments.
Due to compliance and regulations, StartEngine cannot wire the funds raised from the campaign until all the investments have cleared and all over-subscriptions have been refunded. As a result, we have not been able to access our funds to date, but have been hearing positive reports that this should be happening very soon.
I’m confident and pleased with how things are progressing, and will be sharing a chart with our prototype timeline as soon as everything is solidified. One of my promises is to keep you in the loop as we grow this car company together. This is just one of many updates to come.
In the meantime, stay tuned, as once we get access to the funds, the fun really starts!