NEXT Boatworks LLC

NEXT Boatworks LLC

We're building the future of rowing.

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Security Type
CAFES
Categories
Retail, Consumer Goods & Products, Technology, Healthcare & Medical, Community & Lifestyle, Sports & Fitness
Min Investment
$100
Location
Bristol, RI
Expected Close Date
April 30, 2023
Target Raise
$50.00K-$450.00K
No. Investors
41
Security Price
$1
Website
nextboatworks.com
Number of Employees
5
Cash
$7,727
Revenue
$0
Short Term Debt
$150,614
Cost of Goods
$0
Long Term Debt
$311,232
Net Income
$-495,801

Company Description

→ The first Next-Gen coastal rowing boat designed & built in the USA
→ The NEXT C1X, establishes NEXT Boatworks as the leader in coastal rowing boat design.
→ Pre-production sales of $122K, from Hong Kong to California to Maine.
→ $45Bn spent annually on small boats, human-powered.
→ Coastal-style rowing is the fastest-growing segment of rowing globally.
→ Coastal rowing expecting 2028 Olympics debut, driving interest and demand for coastal boats.
→ Bootstrapped $750k from founding team so far.

Management Team / Advisory Board Bios

Dennis Loebs CEO, Co-founderSerial small business owner and small boat addict. Design-focused and detail-driven. Creator of $75M+ accumulated value in the AEC space. Dennis gets things done., Ben Booth Co-founder, Boat Designer, Coastal Rowing GuruAn authority on coastal rowing and a member of US Rowing coastal committee, Ben is a pioneer in the sport. He was the first US athlete in the coastal world championships, and holds course records at home and abroad. Big wave rowing is his specialty., Sinead Fitzgibbon Advisor, board memberRacing coastal boats globally since 2018, representing USA in IRL, HK. Physiotherapist, coach, trainer. Fits bodies to boats, and boats to bodies.
Amount Raised : $117,000
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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