That was a bad surprise for me too, but I understand why they did it this way. They were not after millions of dollars, but a (relatively) small amount.
I'm assuming accredited investors reduce the paperwork / liability and are a better plan A. As they secured their funding target with that scope, they don't need to action the plan B of non-accredited investors. That's less energy spent on investor relations and more on the product.
I'm assuming accredited investors reduce the paperwork / liability and are a better plan A. As they secured their funding target with that scope, they don't need to action the plan B of non-accredited investors. That's less energy spent on investor relations and more on the product.