Newcastle-based craft beer maker Oxbow Brewing Co. LLC plans to solicit up to $1 million in private equity investment, according to a document filed Monday with the U.S. Securities and Exchange Commission.
Oxbow filed a Notice of Exempt Offering of Securities form, signaling that it intends to solicit investments in exchange for shares in the company. The brewer indicated that it would accept amounts as little as $5,000 per investor, and that it expected the offering period to last more than a year.
The “exempt” descriptor refers to an SEC rule that exempts a company from registering its offerings with the federal regulator if it solicits no more than $1 million per year from investors.
According to the filed document, Oxbow already has sold $150,000 worth of equity and is seeking to sell an additional $850,000. The company did not specify what it plans to do with the funds, and its founders did not return a call seeking comment Monday.
According to its website, Oxbow specializes in Belgian-style ales, and its products can be found in bars and restaurants in Maine, Vermont, New York City, Philadelphia, Baltimore and Washington, D.C. It operates a production facility in Newcastle and a blending and tasting room in Portland.
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