Fireman’s Brew Initiates Private Stock OfferingWednesday, October 31, 2012
Fireman’s Brew Inc. is conducting a private stock offering to raise $5 million in capital for an expansion.
The Woodland Hills microbrewery is offering 6.25 million shares of common stock at 80 cents a share. The minimum purchase is 6,250 shares for $5,000, though the company has the right to waive that requirement. It is seeking both qualified individual and institutional investors.
The company closed a previous round of funding in May that raised $835,000, said Chief Operating Officer David Johnson. That funded an expansion in recent months that saw Fireman’s Brew reach agreements with regional distributors to widen its availability.
“In the last two months we’ve expanded into Colorado and Illinois and now we’re expanding into Arizona,” Johnson said. “We’re working on a number of other new ventures, but we haven’t secured anything yet.”
The offering, announced Tuesday, is not registered with the Securities and Exchange Commission. However, it is subject to regulations issued by the California Department of Corporations.
Fireman’s Brew makes three different types of beer and sells premium coffee beans and sodas.