ALL CATEGORIES

PROJECT PROMOTERS

How do changes to project's conditions work during the time they are in campaign?

During the campaign phase, investment conditions can be changed once. If you want to know more about how our campaigns work, please read here.

This can happen for the following reasons:

Changes in the amount of funding:

• Amount increase: this usually happens in projects that are part of a funding portfolio. For example, GoParity enters into a contract with a promoter to fund 1 M€ and spreads this funding across several campaigns. If the campaign is going very well, the amount to be raised can be increased (this is an example of a project where this happened).

• Amount reduction: can happen in the same situation as in the previous case. Another example could be when funds to be raised do not reach the initial amount goal, but the promoter chooses to use the funds that were indeed raised until that moment and match those with own capital to move forward with the investment initially planned. 

Do you have questions about what happens when a project doesn't reach the amount to be raised? Read more here.

Change in funding term:

• Deadline anticipation: it happens whenever a project reaches the amount to be raised before the stipulated time.

• Deadline increase: when the stipulated amount cannot be raised within the deadline, but it is expected to happen, so it gets increased. 

The aforementioned changes to the financing offer are regulated by (Portuguese) Law 102/2015, article 9:

Article 9

Change of offer conditions

1 - If the indicated amounts are not raised within the defined deadlines, the transactions are considered null and void.

concluded in the meantime, and the beneficiaries of the investment must return the amounts they have received

in cases where this transfer has already taken place, without prejudice to the provisions of the following number.

2 - If the offer expressly provides for the possibility of changing the amounts and deadlines, and this fact has been

initially communicated to investors, platforms must notify all investors of the supervening change

of the subscription conditions, identifying, depending on the case, the new subscription term or the new amount

maximum to raise.

3 - Only one time extension or amount change is allowed for each offer.

4 - In case of changes to the offer, a deadline must be determined for canceling subscriptions already made.*

* This article has been translated by GoParity.