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Posts Tagged jumpstart our business startups

Mission Brewery selling stock to general public

Oct 3

Yesterday, Mission Brewery owners Dan and Sarah Selis announced the launch of a stock-purchase campaign. Sale of stock will take place over a two-month window via online applications on the WeFunder site. With the exception of an ill-fated and illegal attempt by Kearny Mesa’s defunct Magnetic Brewing, this is the first time a San Diego-based brewery has explored a venture of this kind.

In the past, Mission Brewery was limited in the types of investors it could bring aboard by Securities and Exchange Commission regulations. Previously, investors needed to be accredited and possess a certain income and net worth, but Title III of the JOBS (Jumpstart Our Business Startups) Act, which went into effect May of last year, allows the Selises to entertain applications from the general public. The Selis’ investment goal is $1 million, and the minimum investment individuals may make is $200. Beyond the minimum, WeFunder calculates the amount each investor may invest based on their income and net worth.

“Investing in Mission Brewery doesn’t just help the brewery, but it gives San Diegans the chance to become a part of the local San Diego beer scene as more than just a consumer or homebrewer,” says Dan Selis. “Most beer lovers dream of opening a brewery. I was homebrewing for about 25 years before I started Mission Brewery. Now, people can have the chance to make becoming part of a brewery a reality and own a piece of Mission Brewery.”

Mission Brewery opened in 2007 as a resuscitation of a San Diego beer-making brand originally established in 1913. That operation closed in 1920 at the onset of the Prohibition Era. For a time, its beers were produced in the historic Mission Brewery Plaza in the Five Points area of San Diego. Manufacturing now takes place in another historically significant location, the old Wonder Bread factory just east of Petco Park in downtown’s East Village area. Mission’s production for 2017 is projected to reach roughly 18,000 barrels, and its beers are currently distributed in six states: California, Arizona, Colorado, Hawaii, North Carolina and Pennsylvania.

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