A number of fans were buying shares up until the 5pm deadline although it looked likely the club would fall well short of their original £1.79million target.
Hearts revealed seven days ago they had raised more than £800,000 and urged fans to sign up or the club could face another do-or-die situation after averting a winding-up order earlier this month by paying a £450,000 tax bill.
Hearts settled another issue with Her Majesty's Revenue and Customs by agreeing to pay £1.5million over three years.
Players voluntarily deferred their wages last month but they were paid before receiving their full salary for this month on December 16.
However, Hearts director Sergejus Fedotovas last week continued to warn fans of the dangers ahead by stating they were facing a £1million deficit.