Re-launching the Morningside PlayCare Campaign
Dear NextSeed investors,
I wanted to send a special thank you to all the investors who have participated in this current Morningside PlayCare NextSeed Campaign. I know there are a number of investment options for your finances, and I am truly grateful that you have chosen to use your funds to invest in the vision of Morningside PlayCare.
Based on our current financing needs as well as the recent performance of the business (exceeding projections), I have restructured my offering as a debt investment rather than a future equity offering. I believe this is a better fit for our business, and it provides investors with more clarity around the repayment of this investment.
The MPC Campaign will be re-launching shortly with these updated terms:
1) Term note with a 12% annualized interest rate.
2) There will be a 10-month startup period, meaning our monthly payments will begin 10 months after the offering close date. During this startup period, interest will be accruing and will be counted towards the investment principal.
3) The 48-month maturity for the note will also start from the offering close date.
4) The campaign period has been extended to October 4th.
With the reset of the offering, your investments have been canceled and returned to your NextSeed accounts. To reinvest (or invest a new amount), you will need to go back and indicate your investment based on these new investment terms.
Again, I thank you for believing in our mission, investing in this valuable education, and participating in our growth.
Gail Foster, Ed.D.