Brent Hocking and Drake. (PRNewsfoto/Virginia Black)
Drake has made yet another mogul move — and he wants you to join him in being a mogul, too. The Grammy Award-winning artist recently announced the intention to file an initial public offering (aka an IPO) that will allow people to invest in his Virginia Black American Whiskey brand.
The IPO is slated to begin at the end of the 1st quarter of this year. Individuals interested in learning more about the investment opportunity and registering an indication of interest, along with opening and funding their BANQ® account to purchase shares once the offering commences, can do so here.
Launched in 2017 with spirits producer and entrepreneur Brent Hocking, Virginia Black is an aged Bourbon whiskey that was voted one of the top 100 spirits of 2017 by Wine Enthusiast, earning a 91 point rating.
Decadent American Whiskey. (PRNewsfoto/Virginia Black)
There’s no denying the new-found popularity of brown spirits. Last year, 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.
TriPoint Global Equities, LLC, working with its online division BANQ®, 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 and intends to use the proceeds from the offering to fund expansion, sales and marketing, and for working capital and other general corporate purposes.
“Virginia Black is the perfect combination of exceptionally good juice in exquisite packaging at an accessible price,” says Hocking. “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.”
So, if you’ve decided to cash out early on Bitcoin, you can invest in a more tried and true commodity — booze.