Introduction
MAGFAST LLC [1] is a direct-to-consumer electronics company revolutionizing the $50B+ charging market [1.1]. With a line of advanced charging products, world-class design and bold marketing, we've captured significant consumer interest through two sold-out share offerings and strong pre-order sales. Our innovative ecosystem addresses key pain points in a fragmented market, positioning us for substantial growth.
We expect to start delivering some of the world’s fastest chargers and launch marketing initiatives that could significantly expand sales, and potentially establish a new global charging standard.
- See the above video's transcript here.
Deal Highlights
Two previous MAGFAST offerings have completely sold out. With tough choices behind us and a new product range in the wings, this could be the ideal time to invest in MAGFAST.
For a limited period:
A brand-new charging product, the most powerful of its kind, is your free gift for every investment over $1,000 today.
Join our CEO and team to get a feel for the fun, informal marketing approach that’s already brought in over $20M in online sales.
And discover why we're at a unique time in the history of charging, presenting a remarkable opportunity.
- Two of our previous share offerings sold out, both raising the maximum permitted under Reg CF.
- In 2022, we launched MAGFAST Lux — a premium charging cable with a host of unique features and built to such high standards it comes with a Lifetime Warranty. The launch took place on Indiegogo, the well-known crowdfunding platform, and was so successful that sales exceeded $900,000 in the first month. There’s more below about this amazing new addition to the MAGFAST product family.
- MAGFAST has the marketing and product-design potential to become a dominant force in these charging markets, one of the first and only companies to develop a world-beating system approach to charging.
- Shipping to our many thousands of pre-order customers is constrained by funding (MAGFAST isn’t yet profitable) and by the care we take to incorporate user input. Nevertheless, things are moving fast: many thousands of customers have received their Gen1 products, and the first hyper-fast Gen2 products are scheduled for release shortly.
Problem
This story begins in a home, perhaps like yours, that always seems in need of a touch more organization.
Seymour Segnit invented MAGFAST to solve a real problem: those messy, often missing, and frequently broken cables that end up all over the floor or in a drawer or back pocket somewhere . . . but which floor, which drawer, which pocket? [5]
On the right, MAGFAST Gen1 products doing the same job.
Mobile devices have become smarter and faster, and chargers have become more powerful. But the premise of charging is largely unchanged: clunky, throwaway boxes that rely on wires which, almost inevitably, break or get lost.
And then there's the opportunity cost of living without ‘everywhere charging’. Have you ever missed that all-important call or run out of juice when shooting a video of your kids or watching a favorite movie? In today's world, keeping your mobile devices charged is no longer a nice-to-have. Staying in touch for work, handling emergencies smoothly, and being there for your loved ones when they need you - these are the promises of today's communications.
We knew it was time for something better.
Solution
MAGFAST is:
- Designed to be best in class for each product individually
- A truly integrated family of charging devices
- Engineered to work consistently, reliably, every time, for years to come
- Designed in every detail to be elegant as well as functional
MAGFAST Lux launched in August 2022 on Indiegogo, a leading global crowdfunding platform, and raised over $900,000 in a month.
Super premium, super stylish and super durable – and with a gorgeous, soft and silky feel – there’s a lot to love about Lux. Available as USB-C to USB-C (now standard on most modern devices) or MFi-certified USB-C to Lightning for earlier Apple devices – it comes with an array of features which make it unique, like a custom USB-A adapter, gold-plated tips and Fingerprint® anti-counterfeit technology.
Lux is a unique combination of silky, soft to the touch, hard as nails toughness, and superior performance:
Immediately different from any regular charging cable you’ve ever handled:
MAGFAST chargers work together as a system: every charger features MAGFAST Snap-to-Charge. Through the magic of magnets, each charger or power bank connects instantly and seamlessly with every other device in the family.
Here’s a cutaway of Snap-to-Charge for the Gen1 family:
No more messy wires: just drop your phone or power bank onto a MAGFAST charger and it’s charging. Immediately. Then just grab and go when you run out the door.
2025 Strategic Update
Hyper-fast Gen2 chargers and power banks now in development (see below) build on these core characteristics of Gen1, with an important technology shift. Rather than proprietary connectors, Gen2 takes industry standards and enhances them to provide what we believe will be among the fastest, most capable charging products available.
Last year, we took the decision to cut back the product range substantially, discontinuing all Gen1 charger products and the recently released and highly acclaimed Heathrow premium luggage range. We also increased the power of Lux Pro, delaying its release, and have suspended the launch of Lux Ultra, at least for the time being.
These were tough choices - ones we believe will make the company much stronger in the long run but resulted in an immediate drop in sales volume and proved disappointing for many customers, including some of MAGFAST’s most loyal supporters. Our customers are much-loved, crucial stakeholders, and we are working hard to address concerns, providing credits for unshipped products and accelerating development of Gen2.
We believe that the short-term pain is outweighed by substantial long-term benefits: increased focus and a solid platform on which to build a smaller range of advanced, standards-setting new products.
MAGFAST is now better positioned to leverage its competitive advantages and new additions to the executive team.
Now, with MAGFAST Gen2, charging becomes even faster and more convenient.
A brand-new range of Gen2 chargers is planned to replace the Gen1 family, promising some of the world’s fastest charging speeds, and major new features.
With MAGFAST in your home, your car, your office, and your backpack, you're all set.
Individually, each product is designed to be best in class. As a family, nothing else comes close.
Business Model
In official business-speak, our primary business model is DTC: direct to consumer.
We find our customers directly - through online advertising and a long-form presentation that explains the product range.
We attract potential customers in three different but complementary ways, through:
- Online advertising and a long-form presentation that introduces the full MAGFAST product range.
- Online advertising and an invitation to purchase or pre-order products from store.MAGFAST.com.
- Amazon: currently featuring Lux.
MAGFAST's unique online pre-order experience has driven over $20 million in sales and pre-orders.
However people may choose to transact with MAGFAST, we’re committed to nurturing everyone who chooses to become part of the family.
Lux average order value is over $188, in part because premium packaging makes them perfect corporate and personal gifts.
Through regular communication, integrated snap-to-charge products and the announcement of new products and new markets, we believe excellent growth is possible, with strong levels of repeat business and a lifetime value per customer perhaps 2-3X the initial order value.
As explained in the sections below, MAGFAST is working on new products:
Market
The charger market is big. Very big.
While analysts don’t all agree on quite how big, they do agree that the market is huge and growing fast. For example, in a report published by IMARC Group, the global battery charger market reached a value of US$21.7 billion in 2020 and is expected to reach US$34.1 billion by 2026. The wireless charger segment alone is estimated to have breakneck annual growth of up to 25% [2].
The market for USB cables is worth over $12 billion, projected to reach over $70 billion by 2031 [2.1]. The global mobile chargers market for chargers and portable power banks is worth over $36 billion, and growing fast [2.2]. Yet, somehow, there are no great charging brands! And relevant corners of the global smart-home market are worth at least $50 billion [2.3].
And, unlike most mature consumer markets, there are really no great charger brands.
Competitors include Belkin, Anker, Aukey, Mophie, RAVPower, Duracell, iClever, EasyAcc, Samsung, Xiaomi, Monoprice. Lesser-known (in the U.S. and elsewhere) brands include Aibocn, Boscov, Bestek, Yoobao, iMuto, Maxxima, Moshi, Native Union, Nimble [3]. The market is highly fragmented, with few large companies primarily dedicated to charging, and several smaller companies jockeying to differentiate themselves based on minor feature differences (improved build quality, marginally larger batteries, slightly faster charging times, etc).
To our knowledge, no other charger company yet offers an integrated system of products that all work seamlessly together. MAGFAST’s product range and business model are designed to be considerably more ‘sticky’ than competitive chargers and power banks.
We believe that no other charger brand has the vision or marketing skill to launch unique, premium charging products that can integrate across markets, and have the potential to dominate in each sector.
And it’s likely that no other charging products may compete with MAGFAST’s combination of high-performance technologies in development for Gen2.
We expect repeat orders and a strong lifetime customer value for these reasons:
- Products that work together as a system provide an excellent incentive to buy additional units in the same family of devices.
- MAGFAST is one of the first companies in the space to adopt the ‘direct-to-consumer’ (DTC) model comprehensively. This gives us the advantage of a much closer relationship with prospects and customers: we typically communicate on a weekly or monthly basis about progress, special offers and new opportunities.
We believe an improved cash position can arm us with negotiating power to cut the cost of goods, speed development and engineering, and to invest in inventory – major direct impacts on our competitive positioning and market share.
Progress
The company has made major progress in the following areas:
- Product development: many thousands of pre-order customers have now received products and we plan to ramp release of Gen2 products and shipping as rapidly as we can.
- Marketing: our customer acquisition model, as evidenced by millions in pre-orders, is battle tested, soon to be augmented by distribution through multiple channels.
- Operations: our systems are built to scale.
- Intellectual property: the founder has developed a robust portfolio of patents and trademarks.
We’re changing our approach to product development with the goal of bringing more of the design and engineering under our direct control, and in house where possible.
While product engineering for the original product family took much longer than expected, our new product ranges (Lux and Gen2) have shipped or planned to ship close to schedule. We expect the new development approach to be significantly more predictable. There are brand-new products in the pipeline, which may be available for purchase only once development is completed.
Production status [4] is updated at intervals at MAGFAST.com/status.
It’s a core competency for MAGFAST. A small team is led by the company’s CEO, a gifted online marketing expert. MAGFAST marketing has been 100% online, primarily in the form of targeted ads on Facebook and YouTube. A sophisticated marketing funnel, built over five years by an in-house team in collaboration with experienced external agencies, is constantly monitored and refined.
New online ads are made and released regularly and tested in different market segments; each month’s learning is fed into new creative, constantly refining format, benefits and content. Ad respondents typically attend a webinar offering pre-order pricing. Show interest by registering for an online event or other promotional activity and you become part of the MAGFAST marketing ecosystem. A program of customer relationship marketing kicks in to provide information and guidance to purchase.
MAGFAST’s direct-to-consumer model affords us a much closer relationship to prospects and customers than traditional consumer electronics manufacturers.
Additionally, we have long been planning a move into wholesale and retail distribution of our products, participation in trade shows and other in-person events. We are actively developing a plan to launch these ‘bricks-and-mortar’ activities, with a preliminary focus on Gen2 products. This move takes MAGFAST into the hybrid field of bricks-and-clicks marketing.
Given the importance of direct customer relationships, we expect to see MAGFAST Fingerprint®, a fast method of identifying and registering each item sold via its serial number, becoming an increasingly important tool for connecting with customers:
The company has been based since inception on a virtual workforce, with team members working remotely in the U.S. and other countries, and a comprehensive suite of online technologies designed to scale. MAGFAST.com has been built to handle high traffic volumes reliably and fast.
All pages of the site are cached on Google’s Cloud Platform which can serve millions of users simultaneously, and the event experience and checkout process (a customized experience for every visitor) use JavaScript to offload the bulk of the computing to the visitor’s browser. Remember, our systems handled $1/4 million in under 15 minutes on the very first day MAGFAST was launched . . .
At MAGFAST, we think a little differently. We hired Sanja, a former lawyer, for customer care because at her interview she aced the question ‘What’s customer care all about?’ with the one word answer: ‘Serotonin’. Customer care has been under pressure recently because of slow product delivery and the discontinuation of Gen1 products, a challenge we are working proactively to address. Keeping our customers happy is crucial, and up to 9/10 are sticking with us on this journey.
MAGFAST is laser focused on customer care as a key part of building long-term relationships with a large and growing group of prospects and customers. Notably, customer-care volume increased because of earlier production challenges. We've devoted a big slice of our time to figuring out how to keep customers happy without draining cash: our team has developed “Intelligent Customer Care” that allows us to keep a big-hearted personal touch while cutting the time it takes to answer every support ticket. We are working to accelerate support responses through the introduction of high-quality artificial intelligence (AI) designed to offer a first tier of response. “Maggie”, our AI chatbot, is already available for real-time answers to questions in webinars, and next steps include rollout to customer-care agents and customers. Our customer-care team is also geographically distributed around the globe to enable near round-the-clock capability.
The growing portfolio of patents and trademarks relating to the MAGFAST product range is used by the company under terms that include an exclusive, royalty-free license from the managing member of MAGFAST, Mischievous LLC. According to the terms of the license agreement, title to the licensed materials is automatically assigned to the new controlling entity in the event of a change of control.
We project significant growth through repeat orders from existing customers, the development of new markets, and the launch of major new initiatives. Current and future activities include:
- A follow-up campaign shortly after initial inquiry recalls features and benefits for prospects who did not purchase.
- Ongoing communications allow MAGFAST to build its relationship with customers, cover product and production updates, and make special offers.
- The release of international variants allowing us to address markets in the EU, UK, Asia and beyond.
Gen2 technologies and new partners potentially bring additional large-scale opportunities:
- Patent-pending fast charging (possibly 10X faster than current wireless chargers) which could leapfrog all existing wireless charging standards while remaining backwards compatible.
- Patented fast-battery charging through a unique technology partnership.
- Proof of presence and highly secure, instant access to services including wi-fi, without the need to log in.
- The development of an advanced home, commercial and public-charging network based on these new technologies - an open network that could potentially undercut and outperform existing methods of on-the-move charging.
- Licensing of MAGFAST’s Gen2 technologies.
Product Range
MAGFAST Lux
Lux reinvents the charging cable. Super premium, and with a gorgeous, silky feel, its Teflon® core is immensely tough, which allows us to offer a Lifetime Warranty … We believe it’s the best device-charging cable money can buy.
- Available in two formats – USB-C to USB-C (the new modern standard) and USB-C to Apple Lightning
- A beautifully designed custom USB-A adapter tip included FREE – so they’ll work perfectly with all new AND old outlets everywhere
- Tested to destruction – Lux cables are certified to 25,000 bends
- Not just strong but super strong – capable of supporting a load of over 150lb
- All the speed you’ll need – download an HD movie in about 30 seconds
- Patent-pending, gold-flash gold-plated tips for the ultimate connection
- Our Fingerprint® anti-counterfeit technology to ensure authenticity
- Customers love Lux!
A new version of Lux is in the final stages of development adding a high-performance alternative. The Lux family is planned to comprise:
- Lux: USB 2.0, 480 Mbps, 60W (USB-C and Lightning)
- Lux Pro: USB 3.2, 10 Gbps, 240W (USB-C) - available in five colors
MAGFAST Gen2
MAGFAST Gen2 represents a major leap forward, bringing together technologies likely to make MAGFAST chargers and power banks that may be some of the fastest, most-advanced on the planet.
Primary Gen2 technology features are:
- High-speed magnetic charging
- High-speed battery charging
- Interactive interface
High-speed magnetic charging introduces the MAGFAST Gen2 Connector. Magnetic charging moves from proprietary to a fast version of the Qi2 global wireless standard first introduced in Apple’s MagSafe. Enhanced by MAGFAST, the Connector, currently in development, promises charging 15X faster than MAGFAST’s Gen1 Snap-to-Charge technology, delivering up to 10X more power than Qi2, while remaining 100% compatible with standard Qi2 devices.
High-speed battery charging is made possible through an exciting partnership that brings one of the world’s fastest-battery-charging technologies to MAGFAST’s power banks.
Unlike high-speed magnetic charging which affects the speed of charging your mobile device, this technology accelerates the charging of the battery in your MAGFAST power bank. We currently expect to see a 10,000 mAh power bank charge from fully discharged to 50% in less than 10 minutes, 80% in less than 20 minutes.
A new interactive interface for Gen2 products builds on MAGFAST’s LEDelicious, allowing users to view and manage charging progress via a touch screen and through an app.
MAGFAST Gen2 Product Range
Plans for the Gen2 product range have evolved in recent months. The updated Gen2 product range is significantly different from Gen1, based on strategic market opportunities.
Three charging products utilizing MAGFAST’s Gen2 technology are currently in development. Trademarks have not yet been established, so the names below are purely descriptive, and the latest product designs are currently under wraps:
- Gen2 Power bank
- Gen2 Home
- Gen2 Public
MAGFAST Gen2 Power bank
MAGFAST demonstrated its first Gen2 power bank at the Consumer Electronics Show (CES) in Las Vegas in January 2025.
MAGFAST Gen2 Home
MAGFAST’s first new product for the home replaces Gen1 MAGFAST Air with a much enhanced product that promises to be:
- fast, using high-speed magnetic charging
- flexible, able to charge multiple stacked MAGFAST devices simultaneously, unlike any other wireless charger on the market
MAGFAST Gen2 Public
Based on a hardware platform similar to MAGFAST Air Pro, MAGFAST Public is designed to tap into the huge global market for on-the-move charging in public spaces.
Existing public charging solutions are often poorly designed, low speed, and missing key features. We believe there is a major opportunity for a more capable network.
MAGFAST intends to introduce its uniquely capable devices to public settings, such as:
- airports
- restaurants and diners
- event spaces
- hotels, vacation rentals, cruise liners
Join our CEO and team to get a feel for the fun, informal marketing approach that’s already brought in over $20M in online sales.
And discover why we're at a unique time in the history of charging, presenting a remarkable opportunity.
MAGFAST Team
He studied engineering at Oxford University, and his long career has included stints at Ogilvy & Mather and Saatchi & Saatchi, presenting his own show at London’s biggest radio station and co-founder of a venture-backed Silicon Valley startup. He served in the same capacity at thingCHARGER Inc, another USB charger company, from Dec 2013 to Aug 2016.
Seymour has served with MAGFAST LLC since its inception, and is a controlling member of manager - Mischievous LLC.
Her strong creative work helps MAGFAST stand out from the crowd. Among earlier clients, Amy counts corporations like Barnes & Noble College Bookstore and Businessweek, plus many of the world’s leading ad agencies including Jack Morton Worldwide, Young & Rubicam and TBWA/Chiat Day. Amy served as co-founder and creative director at thingCHARGER Inc, another USB charger company, from Dec 2013 to Aug 2016.
Amy has served with MAGFAST LLC since its inception, and is a controlling member of manager - Mischievous LLC.
Rex has been managing member of Merexa LLC, an online publishing company, since Jul 2005, and served as executive director of the Cleantech Open from Jan 2009 to Dec 2014. The Cleantech Open is the world’s largest accelerator for clean-technology startups. M.A. (University of Oxford).
In addition to providing personal assistance via email and live chat, Sanja manages our payment plan program and complex data-driven projects. Sanja’s law degree and nine years of working expertise in the legal system allow her to provide valuable new perspectives to MAGFAST’s development. An entrepreneur at heart with a passion for startups, Sanja's enthusiasm and effervescence have made her a perfect match for MAGFAST’s vision.
He built a financial software development company to serve clients like Barclays, Merrill Lynch, Morgan Stanley Smith Barney, and UBS. In addition to large-scale software development, Jeff helps these organizations with business strategy, sales process, and client experience.
Jeff has served on the New York Board of Entrepreneur’s Organization and is certified Gazelles, Outhinker and Book Yourself Solid coach.
Information for Investors
Here’s some material we think you’ll find useful as you consider an investment [6] in MAGFAST LLC [7].
Investor Video Presentation
This is our video announcement about this offering, which includes some of our latest strategic thinking and future opportunities, including opportunities for the new MAGFAST Gen2 connector and setting up an account at Netcapital.
Here's a transcript of the presentation.
Investor Packet
For those of you who prefer a PDF over video or this web page, here’s our current packet. And here’s a packet with answers to frequently asked questions.
Footnotes
[1] MAGFAST® and the MAGFAST® logo are registered trademarks of Mischievous LLC and are used under license. Apple, Lightning and MFi are trademarks of Apple, Inc. and are used by license under Made for Apple/MFi program. Qi is a trademark of the Wireless Power Consortium and is used under license.
[1.1] The global markets in which MAGFAST products are sold are together worth more than $50 billion today, and growing fast. The USB cables market was estimated at $12 billion in 2021 [2.1]; the global mobile chargers market was estimated to be worth $36 billion in 2023 [2.2]; two relevant subcategories of the home automation market, in which we expect MAGFAST will increasingly operate, were estimated in 2024 at $56 billion [2.3].
[2] A recent report by IMARC Group, titled 'Battery Charger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020 - 2026', finds that the global battery charger market reached a value of US $21.7 billion in 2020 and is anticipated to reach US $34.1 billion by 2026. According to MarketsandMarkets Research, the market for wireless chargers is expected to grow even more rapidly and is expected to reach $13.4 billion by 2026, rising at a compound annual rate of 24.6%.
[2.1] In their report titled ‘USB Cable Market ... : Global Opportunity Analysis and Industry Forecast, 2021-2031,’ Allied Market Research considers that ‘The global USB cable market was valued at $12.73 billion in 2021, and is projected to reach $69.86 billion by 2031, growing at a CAGR of 20.24% from 2022 to 2031.’
[2.2] The global mobile chargers market was estimated by Research and Markets in their report ‘Mobile Chargers Market Analysis Report 2024-2030’ to be worth $36 billion in 2023, projected to grow to $56 billion by 2030.
[2.3] Statista reports in consumer market insights ‘Smart Homes - Worldwide’ that the global smart-home market in just two categories (control/connectivity + energy management) was worth $56 billion in 2024, growing to $85 billion by 2028. The total smart-home market is estimated to be in the hundreds of billions of dollars.
[3] This is a cross sample of competitors from our own observations and represented in market research published by third parties. Competitors vary by region.
[4] At this early manufacturing stage, our full family of products may be represented in our materials by production and pre-production units, along with hand-made prototypes, animations and CAD 3D renderings.
[5] Amy and Seymour Segnit were previously the owners of thingCHARGER, Inc. which shipped over 1⁄4 million units of thingCHARGERs based on that company’s records, before thingCHARGER, Inc. ran out of funds. Rights to key thingCHARGER assets were purchased by Amy and Seymour when they started MAGFAST.
[6] If you choose to make your investment using a credit card, Netcapital will charge you a card processing fee that’s typically slightly more than 3%. Netcapital can answer your questions about this fee.
[7] MAGFAST is a Limited Liability Company (LLC). LLCs have considerable flexibility in the language used to define their ownership and governance. Instead of 'members' and 'units', MAGFAST has chosen to use terminology that we believe is more readily understood: for example, managing members may be referenced in our materials as MAGFAST’s board of directors, and members as stockholders.
Use of Proceeds
If the offering's maximum amount of $3,600,007 is raised:
| Use | Value | % of Proceeds |
|---|---|---|
| Sales, General, & Administrative | $1,500,000 | 41.7% |
| Research & Development | $1,000,000 | 27.8% |
| Manufacturing, Materials, & Fulfillment | $863,607 | 24.0% |
| Tooling | $40,000 | 1.1% |
| Product Certification | $20,000 | 0.6% |
| Intermediary fees | $176,400 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Common Units, under registration exemption 4(a)(6), in MAGFAST, LLC. This offering must reach its target of at least $10,000 by its offering deadline of April 30, 2025 at 11:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Financials
These financial statements have been audited by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- May 18, 2024Primary offering finalized, selling units
- Apr 30, 2024Closing ceremonies encore presentation...
- Apr 30, 2024MAGFAST closing ceremonies encore presentation...
- May 2, 2023Primary offering finalized, selling units
- Feb 16, 2023MAGFAST is live with some gorgeous, unique...
- Nov 24, 2022The countdown clock is running. MAGFAST's fall...
- Nov 22, 2022Seymour has landed at JFK and is right now...
- Nov 22, 2022Join us **this Thursday, Thanksgiving Day...
- Jul 12, 2022A quick reminder that our big Summer 2020 event...
- May 3, 2022Primary offering finalized, selling units
- May 3, 2022We're down to the last few hours, and MAGFAST's...
- May 2, 2022MAGFAST has now raised over $4.9M. Less than 2%...
- Apr 30, 2022Primary offering finalized, selling units
- Apr 29, 2022Just a few hours from now we'll be streaming...
- Dec 2, 2021This is it! The final hour to invest in...
- Dec 2, 2021We just went LIVE with our 'Closing Ceremony'...
- Dec 2, 2021Today is the final day to **invest in...
- Nov 30, 2021Just TWO days remain to invest in...
- Nov 29, 2021Today we're announcing that we're now...
- Nov 27, 2021I hope you're having a relaxing weekend. I...
- Dec 17, 2020Primary offering finalized, selling units
Frequently Asked Questions
We've learned from our previous offerings that many people have similar questions about MAGFAST and how to invest. This Q&A video (originally shown on Tuesday, November 16, 2021) covers many of the questions asked by investors, and there are answers to additional frequently asked questions below.
Questions about investing in MAGFAST
We can't of course know what the demand will be like. Many people were unable to get into previous investment rounds, so it is possible that there will be strong demand this time. We do recommend only investing if this is right for you - investing in an early stage company like ours is risky.
If this offering sells out, the Netcapital site will automatically stop taking further investments. However, if you see a message indicating that there's no more room, you do have the choice to join the waitlist. That could be a good idea - it's possible that there will be some additional room should other investors be unable to fund their investment in time, and Netcapital may also be able to inform you of future offerings from MAGFAST.
Yes, by SEC regulation we aren't able to cover specific offering details in our video. But we're able to do so within the Netcapital portal. You'll see our price per share at the top of the 'Pitch' tab: $15.17, and our valuation for this offering at $41,801,460.
Netcapital requires a minimum investment of $100 for U.S. investors (actually, a few cents more than $100 in our case because the share price is not a round number) and $300 for international investors (or slightly more than $300).
There is no fixed maximum investment in MAGFAST. There are, however, some constraints: First, we're aiming to make this offering available to the maximum number of people - there is a chance that, once again, not everyone will be able to make it into this round. Second, the SEC has rules, based on what you can afford, about how much you can invest. You will see questions (to which your answers are fully confidential) which will help the platform calculate the maximum sum you can invest under government rules.
Yes, you will be able to come back in and make as many additional investments as you like, until or unless the round fills up. There is no additional cost for making multiple investments: Netcapital does not charge any fee to you as an investor, other than the 3% processing fee if you choose to invest using a credit card.
The official closing date is November 29th, and it is possible that Netcapital will offer shares to people from the waitlist, if available, after that date.
The information is all here at Netcapital.
Questions from international investors
According to legal advice, yes, absolutely: "Can Non-U.S. Investors Participate in U.S. Crowdfunding Offerings? Yes. No matter where he or she lives, anyone can invest in a U.S. Crowdfunding offering". For more information, take a look here.
It's not truly possible for us to know the exchange rate offered or any fees charged for a foreign transaction by your bank (if you send payment via wire transfer) or credit card processor.
We're delighted to welcome international investors, as long as your country allows you to make investments in a U.S. equity-crowdfunding offering. If you have questions about setting up your Canadian Social Insurance Number or other non-U.S. version of a social security number, please specify that you are not in the U.S. If you need further help, please contact Netcapital.
Questions about paying for my investment
That works. Please be aware that it can take some days for the Netcapital Wallet to be funded, so, if we’re nearing the close date, you might instead like to invest by setting up your bank account or using a credit card. If you choose to invest by credit card, it might be a good idea to phone your card issuer to let them know in advance. We understand from Netcapital that any funds left in your Wallet after you invest can always be refunded.
We understand from Netcapital that, while the interface they use to allow a link to bank accounts for investment is connected with thousands of banks and credit unions, there are some smaller institutions that are not supported. You could ask your credit union if they have a means of connecting with Netcapital - although that's not likely to happen in time. The alternatives are of course to invest using a credit card or wire transfer.
Netcapital does not charge investors a fee for making an investment, which means that:
- There is typically no fee for making your investment through a bank transfer (available only from U.S. banks and credit unions supported by Netcapital's interface)
- There is, however, a ~3% fee for payment via credit card. Card processors charge a fee for use of their services - Netcapital is, as far as we're aware, just passing on the cost.
- We understand that Netcapital does not charge a fee for a wire transfer, but it's likely that your bank does. Fees in the United States are typically $15-$25, but please check with your bank first.
No, Netcapital does not charge a fee to you. Any fees for the offering will be covered by MAGFAST. There is, however, a card processing fee (around ~3%) should you invest via credit card.
If you're not seeing this option, it's likely that you are outside the United States. Investing using your bank account is only available to people with an account at a U.S. bank or credit union.
Please also note that many more of your questions may be answered within the comprehensive, searchable Netcapital Help Center
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