Goodwolf

Goodwolf

Probiotic water kefir beverage brand, with a retail footprint of 300+ locations including Whole Foods

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Security Type
Convertible Note
Categories
Consumer Goods & Products
Min Investment
$100
Location
PORTLAND, OR
Offering Date
August 10, 2021
Expected Close Date
January 10, 2022
Target Raise
$25.00K-$194.00K
Security Price
$1
Number of Employees
1
Cash
$562
Revenue
$126,010
Short Term Debt
$73,566
Cost of Goods
$80,771
Long Term Debt
$81,184
Net Income
$-73,379

Key Deal Facts

Increased total retail door count from 140 to over 300 from January 2020 to April 2021, including its first Whole Foods locations in Oregon and Washington.
Sold 11,000+ cases in 2020.
Has distribution agreements in place with UNFI and KeHE, two of the largest natural foods distributors in the U.S.
Profitable in Q1 2021, achieving a net income of $15,692.

Use of Proceeds

Campaign Marketing-Funds allotted to campaign marketing include reimbursements for targeted ads on Instagram and other social media platforms.

General Marketing-Capital allocated to general marketing will help fund introductory promotional spend in new store location launches and in-store promotions and demos.

Research and Development-As the company continues to work on new products, it will use funds to cover the cost of raw ingredients and production. This includes a Goodwolf can line for direct-to-consumer (D2C) sales and a D2C supplement powder line.

Equipment Purchases-To help increase productivity, the company hopes to upgrade its bottling line equipment, which may include a 10-barrel (BBL) brite tank, a glycol chiller, and a can filler.

General Working Capital-The company plans to use funds allocated to general working capital to support the purchase of raw goods and supplies, as well as operating costs such as organic recertification.

New Account Warehouse Slotting-Goodwolf plans to use funds to expand to new distribution centers. The costs associated with expansion include slotting fees paid to the distributor to store the product, charged per SKU.

Intermediary Fees-This allocation includes fees related to launching the crowdfunding raise.

Perks

Investors who purchase the first 100,000 Crowd Notes, and thereby fund the first $100,000, will receive Crowd Notes with a conversion provision based on a $900,000 valuation cap instead of a $1 million valuation cap. That means, in connection with equity financing of at least $1,000,000, the company has the option to convert the Crowd Note into non-voting preferred shares (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share paid for Preferred Shares by investors in the Qualified Equity Financing or (B) the price per share based on a $900,000 million valuation cap (instead of $1 million).
$250+: Goodwolf custom printed bandana + Goodwolf Hat + Stickers
$500+: Variety 4 Pack + Goodwolf custom printed bandana + Goodwolf T-shirt + Goodwolf Hat + Stickers
$1,000+: Variety 6 Pack + Goodwolf custom printed bandana + Goodwolf T-shirt + Goodwolf Hat + Stickers + Additional 3 pack voucher
$2,500+: Variety 8 Pack + Goodwolf custom printed bandana + Goodwolf T-shirt + Goodwolf Hat + Stickers + Additional 4 pack voucher
$5,000+: Variety 12 Pack + Goodwolf custom printed bandana + Goodwolf T-shirt + Goodwolf Hat + Stickers + Additional 6 pack voucher
$10,000+: Variety 24 Pack + Goodwolf custom printed bandana + Goodwolf T-shirt + Goodwolf Hat + Stickers + Additional 12 pack voucher
$50,000+: Official Advisory Role + Variety 24 Pack + Goodwolf custom printed bandana + Goodwolf T-shirt + Goodwolf Hat + Stickers + Additional 12 pack voucher

Management Team / Advisory Board Bios

Keenan Smith, Founder and CEO
Keenan Smith founded Goodwolf in October 2016 and currently serves as the company’s CEO. When Smith founded Goodwolf, he had already been in the natural products space for almost two decades. His experience includes working as a broker, helping to launch and build brands. He also worked as a sales manager, both regionally and nationally, handling planning and presentations for retailers. These experiences helped Smith develop a 360-degree view of the industry, working with distributors and retailers while gaining knowledge of how to execute at shelf. Smith currently resides in Portland, Oregon, along with his wife Nicole and their two daughters Atalaya and Sequoia
Amount Raised : $38,062
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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