A specialty liquor distillery in Moravian Falls, North Carolina, raised $100,000 through a private stock sale, according to a Friday filing with the Securities and Exchange Commission.
American Alcohollery, or Holman Distillery L.L.C., as it is named in the filing, was established by John and Amanda Holman in 2015. The husband-wife pair launched sales of their single sugar spirits, which is a liquor developed through fermentation of vintage dated sugars, on March 4, 2017.
The Holmans will use the proceeds from the sale to fund operations at the distillery.
Two investors bought stock in the offering, which listed a “minimum investment accepted” of $50,000. The distillery made its first sale May 22, and it did not intend to offer any more securities as of the date of the filing.
American Alcohollery distills its liquor on 90 acres of land that the Holmans purchased in Moravian Falls, a census-designated place that had a population of 1,901 as of the 2010 U.S. Census. It is a farm distillery, and uses sugars grown on-property to produce its spirits.
The distillery’s website states that its name combines the words “alcohol” and “gallery.” Its newest offering, called AppleJohn, is a “house made apple wine” and a modern version of the colonial-era beverage called applejack.
The distillery’s initial funding came largely from John’s retirement money after his tenure with a California-based winery. He became a “certified specialist of spirits” during his career, and teaches classes at American Alcohollery. John operates as CEO.
Amanda Holman holds a master’s degree in finance from Harvard University, and operates as the distillery’s chief financial officer. She held numerous finance-management positions previous to the distillery’s opening, including a stint as an accounting manager for Carolinas Healthcare System.
Companies relying on a Reg D exemption do not have to register their offerings of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
