Tahoe Spirits launched a $704,000 brokered equity offering based on information filed with the SEC. The subscription to the equity offering hasn’t started yet. The offering is structured to remain open until June 2015 or when the fundraising cap is reached, whichever one comes first. The private placement, excluding $156,000 to be paid toward officers’ salaries and $10,000 to be paid in placement fees, will bring in expected net proceeds of $538,000. This is the first time the company is filling a security offering under a registration exemption with the SEC.
Tahoe Spirits markets and develops a vodka blend called “Tahoe Blue Vodka” resulting from three fine and separately distilled vodkas made from grape, grain, and sugarcane to achieve maximum smoothness. A percentage of the proceeds are earmarked to help preserve Lake Tahoe.
The company, headquartered in South Lake Tahoe CA, is led by Matthew Levitt (President). Revenues on or below $1 million were reported by Tahoe Spirits.
The executive team includes Christopher Demay and Melody Levitt.
Company: Tahoe Spirits
Amount offered: $704,000
Data as of: 06-04-2014