Iron Sky, the cult film, is back on Invesdor once again to raise more capital. We last heard from Iron Sky in 2014. The camp classic film about Nazi’s who are hiding out on the moon, hit Invesdor to raise €150,000 to help finance the movie production. Before that, a trip to Indiegogo took place.
Now Iron Sky is selling “War Bonds” to aid in financing the film productions cash flow. According to Invesdor, the two-year bond will pay interest every 6months at an interest rate between 4 to 8%. The final rate will be determined during an auction at the close of the round. The targeted raise is between €50,000 to €250,000. The funding topped the minimum amount the first weekend and stands at €168,000 today. These crowdfunded debt securities may be traded, but there is a six-month lock up for investors.
“Everyone loves the buzz and glamour of Hollywood, and now movie fans can be part of the action, and invest their money like a studio mogul” says Invesdor CEO Lasse Mäkelä. “We’ve previously worked with the Iron Sky team to crowd finance part of their first film, so it made total sense to partner with them this time around, and offer a bond product that makes them stand out from the crowd”.
The funding round launched last week and was opened to the Iron Sky community first. Now, it’s moving to the ‘public phase’ so anyone can finance part of the next blockbuster.
“Within the crowdfunding industry there is an appreciation that ordinary members of the public, not just pension funds or wealthy investors, want to get involved in raising money in new ways” explains Mäkelä. “So from our perspective, being able to do something different with our friends from Iron Sky, who already have a vocal, active fan base, was too good an opportunity to pass up. Invesdor’s inroads to the crowd bond market makes us leaders in the industry, where we’re already the only fully-regulated Nordic crowdfunding company” he adds.
“In the coming months, we will also be launching a strictly standardised class of bonds that we believe will be an interesting product especially for professional investors”, states Mäkelä. “We are confident that bonds will surpass equity offerings in popularity quite quickly.”
Invesdor claims 46% market share of equity crowdfunding in the Nordic region today.
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