A first close of $320,000 was initiated by Ambassador Vineyard (AKA Red Mountain Viticulture) on its $510,000 equity offering. So far twenty-four investors committed to the non-brokered placement which started a couple of months ago. $190,000 in additional funding can be raised before January 2015 based on the placement’s structure. The company is filing for the first time a security registration exemption with the SEC.
The winery produces 100% estate grown Washington state wines from its vineyard located on Red Mountain. The company’s 2010 Estate Cabernet Sauvignon won the double gold at the Seattle Wine Awards. The winery produces a variety of wine ranging from syrah and cabernet sauvignon to blends. The wine retails starting at $28 for a 75cl bottle of 2010 Estate Syrah.
The company is headquartered in Benton City WA. Red Mountain Viticulture elected to keep its revenues undisclosed.
The executive team includes Allison Engman, Jeff Smyth, Michael Amato and Michael Towers.
Status: First close
Company: Red Mountain Viticulture
Amount offered: $510,000
Amount placed: $320,000
First sale: 01-12-2014
Data as of: 03-24-2014