Terrafugia, developer of the Transition roadable aircraft project, has posted an appeal for funding on the Wefunder “crowd investor” website similar to the better known site, Kickstarter. Federal investor rules have changed recently, allowing the company to post on the site in September.
On the Wefunder site, Terrafugia CEO Carl Dietrich described how the investment opportunity works, answering the question, how much equity does a $1,000 investment get you based on current funding? “Wefunder investors purchase a convertible note that converts at a discount to the price of the next round [of financing]. Since we do not know what the price of the next round will be, and we do not know the size of the next round or how many investors will purchase the note, it is not possible to give…an exact answer.”
