A Rolling Close refers to a disbursement of funds from the escrow account to the issuer that occurs before the offering deadline.
A rolling close allows an issuer (the “Company”) to receive funds before their offering deadline. If the Company reaches the target offering amount prior to the offering deadline, it may conduct the first of multiple closings of the offering prior to the offering deadline, provided that the Company gives notice to the investors of the closing at least five business days prior to the closing.
Investors will be notified by email and will have the opportunity to withdraw their investment before the rolling close occurs. Once the rolling close is completed, shares are issued to investors and the investment commitments that were made by investors can no longer be withdrawn.
After a rolling close, the company will continue raising until they reach the offering deadline of its campaign, as shown on the company's offering page.