Citizens

Citizens

One of the fastest growing specialty cafe & lifestyle brands

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Security Type
Crowd SAFE
Categories
Food & Bev
Min Investment
$100
Location
New York, NY
Offering Date
February 08, 2021
Expected Close Date
April 26, 2021
Target Raise
$25.00K-$1.24M
Deal Notes

Discount: 20%

Company Description

Vision National expansion & path to IPORepublic funding forms part of a wider $5M Series-A financing round modeled to fuel a 40-unit national expansion across 9 major U.S markets, with a proven business model & formula bolstered with a unique real estate landscape presents unrivaled opportunities. The company has modeled a three phased expansion plan within existing markets and beginning it’s strategic growth plan in new markets, using a repeatable and predictable new market entry strategy that will ensure a sustained success. Completion of the three phased expansion shall see Citizens achieve an annual run rate of $80M. Using current industry comparable M&A transactions, the business shall be in a strong position to merge with a strategic partner, accelerating a path to IPO.

Key Deal Facts

Lifetime revenue of $10M, ~ YoY growth $3M expected
Series A investment fueling a 40-unit growth plan into an ~$80M business
Featured in Forbes, The New York Times, Vogue
Closing $5M in Series A funding to 10x store count into a national brand
Launched 4 profitable locations & corporate HQ in under 4 years
Best in class profit margins exceeding public listed coffee & food brands
Resilient during COVID, increasing profitability up to 6% YoY

Management Team / Advisory Board Bios

Justin Giuffrida
CEO & Founder
Director & Co-founder of @citizens.of an expanding Australian cafe company started in New York in 2016.

Andrew Geisel
COO & Founder

Michael Lawless
Director of Operations

Deal Notes

Discount: 20%

Amount Raised : $1,059,074
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Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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