Legion M’s 5th Crowdfunding Round Scheduled to Close Next Week, $9 Million Raised Over Time

In less than 7 days, Legion M will close its 5th crowdfunding round currently hosted on Wefunder under the Reg A+ exemption.

According to the campaign page, Legion M has raised $4.86 million from 15,792 investors but a not from the company indicates that lifetime investments now stand around $9 million with almost 20,000 investors backing the company.

The current round indicates a valuation of $25.5 million. Legion M is selling common stock at $10 share. Legion M reports that it has investors that have committed $100 and, at least one, that has invested $300,000 to support the business.

Legion M has long been an advocate of using investment crowdfunding to raise growth capital. The companies business model aligns well with the concept. Legion M is a “fan-owned entertainment company” which seeks to invest in movies, television and other forms of media.

Legion M’s goal is to hit one million individual investors over time. According to its offering page:

“When we achieve this goal, we’ll have hundreds of millions of dollars to develop film, television, and other entertainment projects that have 1 million fans standing behind them. We believe this could make us one of the most influential companies in Hollywood … Like a snowball rolling down the hill, the larger we get the more powerful we become. We’re swinging for the fences…”

If Legion M makes it to one million investors they will also have a baked-in audience interested in consuming the content that the company creates or invests in.

Legion M lost $2,411,065 in the period ended December 31, 2018, and have an accumulated deficit of $5,606,386 as of December 31, 2018. Ongoing operational expenses are now approximately $127,000 per month excluding spending related to marketing and projects. So it is not yet close to making money but that is typical for early-stage firms. If you are interested, you should read the most recent offering circular available here. 

Of note, Legion M has filed a Form C which may indicate a future round is already in the making.

 


Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!



Sponsored Links by DQ Promote

 

 

Send this to a friend