What happens if the Deal falls through?

If you decide you no longer want to raise an SPV, 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.

• In practice Odin will always net the £25 from the investment amount we’re refunding, but if desired we can instead invoice you as the Founder 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 into the SPV. There is no ‘lock state’ for the deal (unless it has been submitted for closing), so if anyone transfers while we’re refunding others, we’d have to refund them as well.

To kick off the cancellation process, inform Odin’s Customer Support Team via hello@joinodin.com first.

Our team will then verify that all investors have up-to-date bank details recorded in Odin. If not, we will email them with you in cc to ask that they share them with us.

Our team will then set up each individual wire for investor refunds, which Odin’s Finance team will then approve.

Once each investor has confirmed receipt of their refund, we will then formally cancel the deal from the back-end.