Ballast Point Preps for IPO Debut

By Chris Lange Published Oct 19, 12:35PM EDT

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Ballast Point Brewing & Spirits has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing, but the offering is valued up to $172.5 million. The company intends to list on the Nasdaq Global Select Market under the symbol PINT.

The underwriters for the offering are Goldman Sachs, Morgan Stanley, Baird, BMO Capital Markets, Cowen and Nomura.

This is a fast-growing craft brewer and distiller with global recognition, offering a premium selection of award-winning craft beers, spirits and other alcoholic beverage products. The company brews a year-round offering of beers, in addition to limited offerings across multiple styles.

Its beers have collected more than 200 awards from global beer competitions, including five gold and three bronze medals at the World Beer Cup, where it received the prestigious “Small Brewery of the Year” award in 2010. Ballast Point has also been recognized with awards from other prominent competitions, such as the Great American Beer Festival, Australian International Beer Awards, European Beer Star Awards and Great Japan Beer Festival.

Founded in 1992 as Home Brew Mart, a home brewing supply store located in San Diego, the company began brewing commercially in 1996. Ballast Point now brews out of four facilities in the San Diego area.

The company detailed in the filing:

In 2014, we sold a total of 122,890 barrels of beer as reported on a taxable basis, and recorded $48.9 million in net revenue compared to 37,161 barrels of beer and $14.0 million in net revenue in 2012, representing a compound annual growth rate (CAGR) of 81.8% for barrels sold and 86.6% for net revenue.

Ballast Point intends to use the proceeds from this offering for working capital and general corporate purposes. A portion of the net proceeds from this offering may be used for the acquisition of, or investment in, businesses, products or other assets that complement the business, although the company has no present commitments or agreements to enter into any such acquisition or investment.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.