What happens if the deal falls through?

If you lose your allocation on a deal or receive notice that the deal won’t be moving ahead for another reason, you can cancel your deal without any extra charge to you. Odin will, however, charge £25 per refund for investors that have transferred into the SPV.

Typically we net the £25 from the investment amount we’re refunding, but if desired we can instead invoice you as the syndicate lead and return the full amounts to your investors.

Firstly, inform your investors that the deal won’t be moving ahead, and ask them to go to their account settings in Odin and add their bank details for the refund, in case they hadn’t done so already.

Additionally, make sure that your investors know not to transfer any funds to our designated account. There is no ‘lock state’ for our bank account, so if anyone transfers we will have to receive the money and refund them too.

To kick off the cancellation process, inform either your Customer Success representative or our Customer Support team via hello@joinodin.com first. Our team will set up each individual wire for investor refunds, which Odin’s Finance team will then approve.

Once each wire transfer has been made by Odin, we will then formally cancel the deal from the back-end.