Intends To Launch An Initial Public Offering
Grammy-award winning and certified platinum-selling recording artist, Drake, in collaboration with acclaimed spirits producer and entrepreneur Brent Hocking, today announced the intention to file an initial public offering that will allow any investor the opportunity to invest in the Company’s vision to redefine whiskey. The offering is expected to commence at the end of the 1st quarter 2018. Individuals interested in learning more about the Virginia Black investment opportunity and registering an indication of interest, along with opening and funding their BANQ® account to purchase shares once the offering commences, can visit banq.co/listings/vb.
Virginia Black is an aged Bourbon whiskey, focused on a high-rye content and finished with a decadent profile. Rich, decadent and smooth, Virginia Black captures consumer palates and preferences across market segments. Voted one of the top 5 spirits in 2016 by Wally’s Wine and top 100 spirits of 2017 by Wine Enthusiast earning a 91 point rating, Virginia Black surpasses competitive brands Jack Daniel’s, Jim Beam and Maker’s Mark in flavor profile ratings, even outscoring aficionado favored High West “Bourye” acquired by Constellation Brands for $160 million in 2016.
Virginia Black is uniquely positioned to redefine American whiskey. Attracting a wider and more diverse demographic, broadening the appeal of whiskey and brown spirits in general. Brown spirits lead growth in the U.S. with American whiskey volumes up 6.8% and revenues of $3.1 billion signifying an increase of 7.7% in 2016. Notably, Cognac volumes are also up 12.9% over the previous year with revenues totaling $1.5 billion and an increase of 15.3% in 2016. Virginia Black takes aim to capture market share from both.
The company launched a national commercial campaign on November 19, 2017, airing nation-wide on CBS, ABC, and TNT among other networks during NFL, NBA and holiday season programming. The campaign epitomizes Drake’s own self-deprecating humor beloved by fans and followers alike. A series of teasers for the commercial titled, “The Realest Dude Ever,” went viral after release on Drake’s Instagram receiving over 20 million views almost instantaneously. With over 110 million followers on social media Drake—like Virginia Black—crosses market segments with an impact and influence unparalleled in the industry.
Virginia Black is distributed by Proximo Spirits, which lists Jose Cuervo and Bushmills among its roster of brands, and is available in 45 states and in Burundi, Ghana, Ireland, Kenya, Rwanda, Tanzania, Uganda, United Arab Emirates, and Zanzibar, as well as the United Kingdom and Canada.
TriPoint Global Equities, LLC, working with its online division BANQ® (www.banq.co), will act as the lead managing selling agent and bookrunner for the offering. The Company seeks to raise up to $30 million in its IPO. Virginia Black intends to use the proceeds from the offering to fund domestic and international expansion, sales and marketing, and for working capital and other general corporate purposes.
Founder and CEO Brent Hocking is known for creating award-winning brands and bottle designs. Hocking states, “Virginia Black is the perfect combination of exceptionally good juice in exquisite packaging at an accessible price. From inception, we wanted everyone to enjoy Virginia Black and are pleased to extend the opportunity to millions of Americans and other investors around the world to become part of the Virginia Black family.”
“I am thrilled that Virginia Black is embarking on this offering. TriPoint has been a pioneer and leader in IPOs for years and has developed a methodology that allows issuers and brands to reach a large audience of both investors and customers,” said Mark Elenowitz, CEO of TriPoint. “Virginia Black leads us into exciting new territory where Main Street meets Wall Street, giving millions of fans worldwide the opportunity to be a part of Drake’s success.”
About Virginia Black:
Virginia Black is a collaboration between award-winning spirits producer Brent Hocking; and platinum-selling artist, songwriter, rapper and actor, Drake. A shared passion for style, music, and the pursuit of taste. A quest to redefine whiskey. The product of their attention: Virginia Black Decadent American Whiskey.