22 Jun Cardinal Spirits Announces First-Ever Community Equity Round
Bloomington, Ind. —Cardinal Spirits, the award-winning craft distillery in Bloomington, Ind., announces the opening of its first-ever Community Equity Round, which allows the distillery’s fans and biggest supporters to invest in the company starting at $100 in exchange for equity. Already Indiana’s #1 canned cocktail brand, Cardinal Spirits’ crowdfunding round will fuel growth of its canned cocktail distribution, bourbon production, and co-packing operations.
The company has already raised $176,000+ from 183 investors since the opening of the round, which can be accessed here. The platform being used is Wefunder, the largest platform for community round fundraising. If you’re interested in investing with this great company, do so soon, as this community equity round ends on June 30.
“This community equity round allows our fans to truly own a piece of Cardinal Spirits, and we get to grow our company with our biggest supporters,” says Adam Quirk, co-founder of Cardinal Spirits. “We get to share the upside of our success with them.”
Given the accessible threshold to invest and the acceptance of both unaccredited and accredited investors, loyal customers can invest alongside venture capitalists, which is an innovative funding model. The round’s lead investor is Gerry Hays, a prolific Indiana entrepreneur and an award-winning professor at the IU Kelley School of Business.
“Our fans deeply love our spirits and canned cocktails, they recommend them to their friends, they cheer us on every chance they get, and they’re looking for even more of a connection with us — and this is it,” says Jeff Wuslich, co-founder of Cardinal Spirits. “The notes from our investors so far mention love, community, support, and trust, over and over again.”
Among its growth highlights and milestones shared with investors on Wefunder, Cardinal Spirits has increased the number of retail outlets where products are sold from 1,000 in 2018 to 8,400 in 2023 (including Walmart, Kroger, CVS, and more). The company also reports $6.3M in annual revenue and $32M in cumulative revenue. Meanwhile, Cardinal Spirits’ canned cocktails were recently ranked #2 in the country in USA Today’s 10Best awards.
ABOUT CARDINAL SPIRITS: Cardinal Spirits is the craft distillery in Bloomington, Ind., that makes delicious, award-winning spirits and refreshing canned cocktails. Our products are available in 13 states and Washington, D.C. Our products have been covered by The New York Times, Bloomberg, Forbes, Bon Appetit, The Wall Street Journal, and more. Cardinal Spirits canned cocktails are ranked #2 in the country by USA Today 10Best.