[nostrademons]

You'll lose all negotiating leverage with those investors and possibly spook them into not investing.

The best way to get people to actually move is to create some competition. Seek out other investors, and when they're ready to invest, circle back to the original folks you were talking with and say "We've had some interest from other investors, and the round is closing NOW [or some short deadline like a week]. Do you want in or not?"

[try_sincerely]

Thank you! This part about "round closing NOW" always puzzled me. I understand there is a tradition to set deadlines like that - "raising NNN by YY", but what if the deadline comes and I don't have 100% of my round in? I set a new deadline?

[debacle]

You reassess the business and dust off your exit strategy.

If the investors already know what your runway looks like and they haven't given you a term sheet, they aren't going to be investing.