The closing is the event in which the Investor sends funds to the Company and the Company issues the security. After you have firm commitments from Investors and the Board has approved the round and form of SAFE, these are the broad steps to closing the transaction:
- Get the SAFE signed by each Investor
- Investor sends funds
- Company confirms receipt and sends proof of payment to their legal representative
- Company countersigns the SAFE and sends a fully-signed copy to Investor