Mystic Farm and Distillery

Mystic Farm and Distillery

Closed: Apr. 2024

About this raise

Mystic Farm and Distillery, with a valuation of $20 million, is raising funds on StartEngine. The distillery makes some of the world’s finest spirits using local ingredients and its own grain. Mystic Farm and Distillery hand distills every small batch and creates world-class bourbon and other spirits from grain to glass. The business has been profitable for the past three years and generated $1.2 million in revenue in 2022. Jonathan Blitz founded Mystic Farm and Distillery in June 2013. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.24 million. The campaign proceeds will be used for facilities and equipment upgrades, packaging upgrades, marketing, production, expansion of the warehouse used for storing barrels of aging whiskey, and compliance and overhead expenses.

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Investment Overview

Invested this round: $1,232,985

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
10/16/2023
Close Date
04/17/2024
Min. Goal
$15,000
Max Goal
$1,235,000
Min. Investment

$500

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$20,000,000

Company & Team

Company

Year Founded
2013
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Durham, North Carolina
Business Type
Life Style
Company Website
Visit Website

Team

Employees
6
Prior Founder Exits?
No
Founder Name
Jonathan Blitz
Title
CEO
Founder Name
Michael Sinclair
Title
President

Financials

as of Fiscal Year 2022
 Revenue +8% YoY
$1,200,277
 Monthly Burn
Profitable
 Cash on Hand
$38,708
Gross Margin
85%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,200,277

$1,106,590

COGS

$179,073

$261,820

Tax

$0

$0

 

 

Net Income

$248,077

$270,845

Summary Balance Sheet

FY 2022 FY 2021

Cash

$38,708

$98,367

Accounts Receivable

$14,519

$6,059

Total Assets

$505,788

$319,750

Short-Term Debt

$83,407

$91,772

Long-Term Debt

$119,270

$0

Total Liabilities

$202,677

$91,772

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/17/2024 StartEngine $20,000,000 $1,232,985 Equity - Common Funded RegCF
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Add to portfolio
Mystic Farm and Distillery on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $20,000,000
Price per Share: $1.00

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Warning: according to the close date for this deal, Mystic Farm and Distillery may no longer be accepting investments.

Mystic Farm and Distillery Deal Report

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