-
Security Type
-
Revenue Sharing
-
Categories
-
Food & Bev
-
Min Investment
-
$100
-
Offering Date
-
June 23, 2018
-
Expected Close Date
-
September 21, 2018
-
Target Raise
-
$100.00K-$250.00K
-
Deal Notes
-
- Securities: Revenue Sharing Notes
- Offering Amount: Minimum $100,000 to maximum $250,000
- Investment Multiple: 1.60x
- Payments: Monthly
- Revenue Sharing Percentage: 4.25% of the Issuer's monthly gross revenue for the first 12 months of operation once the restaurant opens for business. 6.75% of the Issuer's monthly gross revenue thereafter.
- Maturity: 48 Months
- Security Interest: Blanket lien on all assets of the business
- Ownership % Represented by Securities: 0%. Investors will not receive any equity interests in the Issuer or any voting or management rights with respect to the Issuer as a result of an investment in Securities.
Company Description
In one of the dining capitals of the world, New York City’s tasting menus run upwards of hundreds of dollars per person, before wine pairings. But what if you could get the same quality of food without the uncomfortable pomp and exorbitant prices? Oxalis, the venerated dining pop-up, now arrives to Prospect Heights as a brick and mortar restaurant offering dining for a new generation. Oxalis is bringing the Parisian neo-bistro ethos to Brooklyn to satisfy a growing demand for a relaxed yet elevated dining scene. In a stripped-down environment, the team at Oxalis focuses instead on accessibility, great service, and exceptional products to highlight the peak produce and remarkable offerings of local purveyors. Diners have the choice of enjoying a curated set menu in the dining room or sitting in the backyard to enjoy a variety of a la carte options with a crafted cocktail or natural wine. Executive Chef Nico Russell has spent years in the kitchens of some of the city’s most esteemed, Michelin-starred restaurants including Daniel. He also spent time at France’s Mirazur, often rated among the top restaurants in the world, and in some of the best restaurants in the Bay Area. The Oxalis menu will reflect the bounty of the seasons and present every ingredient with meticulous thought and French technique. Examples of the prix fixe options include “beets, verbena, pollet egg, chickweed” and “duck, macoun apple, golden turnip.” It can be said with certainty that nowhere else ¬in the city will you experience such talent at such a price point.
Perks
EARLY BIRD REWARD: $50 Gift Card to Oxalis
Invest $500 or more: First access to limited event & pop-up reservations
Invest $1,000 or more: First access to limited event & pop-up reservations
Invest $5,000 or more: First access to limited event & pop-up reservations
Invest $10,000 or more: First access to limited event & pop-up reservations
Invest $25,000 or more: First access to limited event & pop-up reservations
Key Deal Facts
Elevated and accessible dining for a new generation, perfected at pop-ups around NYC
Opening team has extensive, pedigreed restaurant and financial experience
Bringing France’s popular neo-bistro movement to New York
A first-of-its-kind offering in the area and beyond
Affordable fixed price menu that allows for thoughtful, creative food with heightened cost control
Use of Proceeds
The total project cost for Oxalis is estimated at $600,000 to renovate a second-generation restaurant space and pay for pre-opening expenses, leasehold improvements, professional services, and opening inventory. An additional $100,000 to $225,000 is needed for working capital and contingencies.
Management Team / Advisory Board Bios
Nico Russell
Executive Chef
Nico’s esteemed career includes four years of apprenticeship under Daniel’s Jean-Francois Bruel (2-Star Michelin restaurant) and one year with Mauro Colagreco of Mirazur (4th in Pellegrino’s World’s 50 Best Restaurants of 2017). Under their tutelage, Nico developed a strong foundation in classical French technique and kitchen leadership. The Oxalis pop-ups and forthcoming restaurant allow Nico to unleash his creativity on these fine-tuned techniques to bring extravagant yet approachable fare.
Steve Wong
Operations
Steve is responsible for the finance, marketing, operations and business development functions of Oxalis. He has experience doing the same for impact investment firms. Steve also worked for five years at restaurants in Buenos Aires and New York City, in front of house capacities. Steve’s unique understanding of restaurant operations, combined with his knowledge in finance, provide Oxalis with expertise in capital and cash flow management.
Deal Notes
- Securities: Revenue Sharing Notes
- Offering Amount: Minimum $100,000 to maximum $250,000
- Investment Multiple: 1.60x
- Payments: Monthly
- Revenue Sharing Percentage: 4.25% of the Issuer's monthly gross revenue for the first 12 months of operation once the restaurant opens for business. 6.75% of the Issuer's monthly gross revenue thereafter.
- Maturity: 48 Months
- Security Interest: Blanket lien on all assets of the business
- Ownership % Represented by Securities: 0%. Investors will not receive any equity interests in the Issuer or any voting or management rights with respect to the Issuer as a result of an investment in Securities.