After many rumors, we've finally gotten anonymous confirmation that Ballast Point is filing an S-1 with Securities and Exchange today -- the form that's the first step in the IPO process.
Distributors were sent a note today saying that Ballast Point Brewing and Spirits will file an S-1 registration statement with the Securities and Exchange Commission (SEC), the first official step toward becoming a publicly traded company.
The company is reportedly pursuing the IPO to provide greater financial flexibility into the future. Importantly, the filing has been structured to make sure founder Jack White stays in control.
But filing an S-1 doesn't ensure they'll go public. It's just the first step, and many things can happen to thwart the process. But if everything proceeds as planned, they could go public in November.
Regardless of what happens, we understand, the company has promised to be the same company post-IPO as before, just with the option for employees and customers to become owners.
Until tomorrow, Harry
"The only thing wrong with immortality is that it tends to go on forever."
- Herb Caen
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