The Seattle Times
Seattle whiskey company named best craft distillery in America
Overview
Copperworks was founded by craft brewers with more than 30 years of experience in the alcohol industry. We built our distillery to answer the question: how would spirits taste if they were distilled from superior craft beer (without hops) instead of the typical methods and ingredients of conventional distilleries? The answer led Copperworks to become a pioneer in producing American Single Malt Whiskey, a fast-growing spirits category with substantial national and international market opportunity.
To capitalize on the growing demand for our highly acclaimed, award-winning spirits, we envision three high-potential expansion projects:
The Problem
The Market
The U.S. craft spirits market has grown rapidly since 2010, with an estimated value predicted to hit $25 billion by 2023.
Meanwhile, the American whiskey market specifically is expected to grow at a CAGR of 9.9% from 2019 to reach $16.8 billion by 2025.
The rapid-fire growth of the crafts spirits market coupled with the substantial and consistent growth of the American whiskey market offers great opportunities for the future of American Single Malt Whiskey. Copperworks is well-positioned to capitalize on two growth market categories that, together, create a huge untapped market opportunity.
“American single malt whiskey is one of the most exciting sectors of the entire whiskey-sphere at the moment. The movement is being spearheaded by small craft distilleries around the country, with a desire to make something that isn’t just more bourbon.” — UPROXX, Sept. 2020
As a founder of the American Single Malt Whiskey Commission and an early innovator in the American Single Malt Whiskey category, Copperworks is an established leader and well-respected brand in this rapidly growing spirits category.
Copperworks leadership team holds (and has previously held) prominent positions of leadership in the U.S. craft spirits industry. Copperworks President, Jason Parker, serves as an officer of the American Single Malt Whiskey Commission and as a board member for the Craft Maltsters Guild. Jason was also Board Chair for the Washington Distiller’s Guild. Copperworks Vice President, Jeff Kanof, serves as Treasurer and Secretary of the American Craft Spirits Association.
The Seattle waterfront, where Copperworks Distilling is located, is undergoing a $728M redevelopment that will dramatically increase public access and visitor foot traffic. “In 2017, waterfront-traffic guest counts were estimated at 6.9 million by the Historic Waterfront Association. Projected growth is between 14 million and 21 million guests by the time Overlook Park and the Aquarium expansion open”, says Heidi Mills in Seattle Business.
This redevelopment, coupled with the popularity of the craft spirits industry, offers tremendous business opportunity for an established waterfront distillery to expand its customer-facing space.
Kenmore, the community in north Seattle slated for the new Copperworks facility, is a popular stop on a high-traffic recreational route (the Burke-Gilman Trail) that runs through the area. Kenmore is growing quickly and is developing a “Brewery District” where Copperworks will be prominently located.
The Solution
Our solution to increase production and customer experience opportunities includes three phases:
Copperworks will open a new restaurant, cocktail bar, barrel storage warehouse, and event center in Kenmore (north Seattle). This space will offer abundant options for customer engagement in indoor and outdoor seating. Visitor capacity for this initial phase in Kenmore will be up to 600 guests per day.
*Images are computer-generated demo versions. Expansion is still currently under development.
The location is directly on the Burke-Gilman Trail, a heavily used recreational and commuter trail that travels through the Seattle area. This popular trail offers an immediate, greatly enlarged prospective customer pool beyond our current footprint. “Even on weekdays, more than 2,000 people use the Burke-Gilman every day—at least a third to get to and from work, making the corridor one of the busiest commuter trails in the country, and certainly one of the most diverse.” ( Rails to Trails Conservancy blog)
Copperworks will expand our downtown Seattle location into a space next door to our current production facility and tasting room.
The Seattle waterfront is expected to see more than 20 million visitors per year once the current construction projects are completed. This new Copperworks space adds 7,000 square feet of bar, restaurant, event, and educational space next door to our current facility to capitalize on the increased tourism traffic and event space rental opportunities. This will expand our downtown daily visitor capacity from 150 guests to 575 guests.
Copperworks will build a new production facility to significantly grow our manufacturing capacity. We believe this will allow us to increase our whiskey production by ten times from 120 to 1,200 barrels per year.
This growth phase in Kenmore will also enable Copperworks to expand the services and amenities we offer to customers, such as cocktails, local beer and wine, food offerings, multiple tour options, events, and more.
Why Invest
The Copperworks team has significant experience building production plants and providing outstanding customer experiences. The company and its spirits have been recognized with multiple U.S. and international honors, including Distillery of the Year.
Copperworks’ proposed three-phase plan will enable the company to grow into a major regional craft spirits producer with targeted national and international distribution and an attraction that offers world-class customer experiences in the downtown and greater Seattle area.
Copperworks' brand, team, and product quality are in an ideal position to exploit the rapidly expanding sales opportunities for American Single Malt Whiskey. Our expanded customer capacity and service offerings will enable the company to become one of the primary providers of spirits enjoyment and education in the Pacific Northwest. The market opportunities exist now, and Copperworks needs to expand now to take advantage of these and future growth opportunities.
We invite you to join the exciting opportunity to bring Copperworks’ innovative, award-winning craft spirits and entertaining activities to as many customers as possible in the Pacific Northwest, U.S., and beyond.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
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Company | : | Big Derby Distilling Company |
Corporate Address | : | 1250 Alaskan Way , Seattle , WA 98101 |
Offering Minimum | : | $9,999.51 |
Offering Maximum | : | $4,999,999.86 |
Minimum Investment Amount(per investor) | : | $249.63 |
Offering Type | : | Equity |
Security Name | : | Non-Voting Common Stock |
Minimum Number of Shares Offered | : | 18,867 |
Maximum Number of Shares Offered | : | 9,433,962 |
Price per Share | : | $0.53 |
Pre-Money Valuation | : | $11,723,916.41 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Time-Based Bonuses
First Week:
15% Bonus Shares
Second Week
10% Bonus Shares
Next Two Weeks
5% Bonus
Incentive-Based Perks
$250
Invitation to quarterly phone call and annual meeting.
$2,200
Lifetime 10% discount on all purchases from Copperworks, not including taxes and shipping fees + Each item from the previous perk tier.
$5,000
Lifetime of tastings for you and up to 3 guests of our core line of spirits in our tasting room + Each item from previous perk tiers.
$10,000
One week early access to all special releases. Invitation to join our team for a single taste panel session (virtually or in-person) + Each item from previous perk tiers.
$25,000
Spend a day with our distillers, including lunch (or dinner) with one of the leadership team + Each item from previous perk tiers.
$50,000
Help select a single cask of whiskey to be bottled and sold to the public + Each item from previous perk tiers.
$100,000
Receive an invitation to join our board of advisors + Each item from previous perk tiers.
*All perks occur when the offering is completed.
The Company will not incur any irregular use of proceeds.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Just Hours Left to Invest in Copperworks
There are just a few hours left to invest in Copperworks Distilling! Our campaign closes tonight at midnight (PT). Invest now to join us in our exciting expansion plans. Thank you to all who have already invested!
Happy New Year!
Invest by Midnight Tonight (PT)
You have until midnight tonight (PT) to join us and help bring our expansion plans to life. Thanks to everyone who has invested so far. Please join us to help us complete these exciting expansion plans.
Last Day to Invest in Copperworks
Today is the LAST DAY to invest in Copperworks. Our campaign closes tonight at midnight (PT), December 31. Thanks to everyone who has invested so far. With your help, we can raise enough to complete this full build-out in a single construction effort which will allow us to open the restaurant and begin brewing as soon as possible. Over 1,000 investors have already joined us!
Just 1 Day Left to Invest in Copperworks
There is just 1 day left to invest in Copperworks. Our campaign closes tomorrow, on December 31. Thanks to everyone who has invested so far. With your help, we can raise enough to complete this full build-out in a single construction effort which will allow us to open the restaurant and begin brewing as soon as possible. Almost 1,000 investors have already helped us raise over $1.8 Million for these exciting projects.
Investment Q&A Session
Thank you to everyone who joined our Q&A session yesterday. If you were unable to attend and would like like to review the session, you can see it by clicking here.
Only 2 Days Left to Invest in Copperworks
You only have 2 days left to invest in Copperworks. Our campaign closes on December 31. Our project in Kenmore is underway and we're working towards a Summer 2022 opening. With your help, we can raise enough to complete this full build-out in a single construction effort allowing us to open the restaurant and begin brewing as soon as possible. If you have any questions before committing, please join us today for our Investment Q&A Session (details below).
Investment Q&A Session
Join us today for one last opportunity to ask us questions live before the campaign closes. We’ll give a few brief updates, but the primary purpose of the session will be to give you an opportunity to ask any question you may have about our plans or the investment opportunity. Open and free to the public, registration required. We will record the session and make it available to everyone afterwards. If you have a question but cannot attend, you can submit it ahead of time and we will answer your question during the session.
When: Wednesday, December 29 @ 4pm PT
Click here to register for the session.
Investment Q&A Session
Join us for one last opportunity to ask us questions live before the campaign closes. We’ll give a few brief updates, but the primary purpose of the session will be to give you an opportunity to ask any question you may have about our plans or the investment opportunity. Open and free to the public, registration required. We will record the session and make it available to everyone afterwards. If you have a question but cannot attend, you can submit it ahead of time and we will answer your question during the session.
When: Wednesday, December 29 @ 4pm PT
Click here to register for the session.
Only 3 Days Left to Invest in Copperworks
We are closing in on 1,000 investors in this campaign with only 3 days left to invest in Copperworks. Our campaign closes on December 31. Our project in Kenmore is underway and we're working towards a Summer 2022 opening. With your help, we can raise enough to complete this full build-out in a single construction effort allowing us to open the restaurant and begin brewing as soon as possible.
4 Days Left to Invest
There are only 4 days left to invest in Copperworks. Our campaign closes on December 31.
Investment Q&A Session
Join us for one last opportunity to ask us questions live before the campaign closes. We’ll give a few brief updates, but the primary purpose of the session will be to give you an opportunity to ask any question you may have about our plans or the investment opportunity. Open and free to the public, registration required. We will record the session and make it available to everyone afterwards. If you have a question but cannot attend, you can submit it ahead of time and we will answer your question during the session.
When: Wednesday, December 29 @ 4pm PT
Click here to register for the session.
8 Days Left to Invest
We are proud that almost 900 investors have joined us since the beginning of this campaign. You have 8 days left to invest in Copperworks. Our campaign closes on December 31.
Happy Holidays!
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Copperworks Distilling Co. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Copperworks Distilling Co. be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
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Campaign Closes in 9 Days
Your chance to invest in Copperworks ends in 9 days. The offering is closing on December 31. With your help we can complete the Phase 1 restaurant and Phase 3 brewery in a single effort and save considerable time and expense. If you've already invested, please consider sharing our investment opportunity with your friends and family.
Copperworks in the Press
We also wanted to direct you to some recent press coverage Copperworks has received:
Our project was featured with a nice article in the Bothell-Kenmore Reporter (the local paper in the town of our expansion location): https://www.bothell-reporter.com/news/copperworks-distilling-co-to-expand-with-kenmore-location/
Our American Single Malt Whiskey was included in Seattle Magazine's essentials for the holidays: https://seattlemag.com/life-style/seattle-magazine-essentials
And, the Whiskey Wash covered our pre-sale of our special whiskey to benefit the KY Tornado Relief efforts: https://thewhiskeywash.com/whiskey-styles/american-whiskey/copperworks-to-release-a-kentucky-tornado-relief-american-single-malt-whiskey/
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