HOUSTON, May 17, 2021 /PRNewswire/ — Cheers, a leading alcohol-related health brand, recently announced its intention to launch its first online public offering (OPO) through its crowdfunding partner StartEngine. With this SEC-regulated offering, Cheers is seeking $5 million in investments from accredited and non-accredited investors to support the growth of their increasingly popular product lines, which have generated more than $25 million in sales since the company’s 2017 launch.
The OPO follows the launch of the company’s «testing the waters» phase which debuted on May 4 and has so far resulted in significant interest. Assuming no launch delays, the offering is slated to go live tomorrow, Tuesday, May 18, 2021, giving family, friends, and their vast network of customers the exciting chance to invest in Cheers. The company elected to pursue this democratized form of fundraising after receiving years of feedback from brand loyalists who wanted to invest.
«We are thrilled to offer the opportunity for thousands of our most passionate supporters to share in Cheers’ successes,» said Brooks Powell, CEO and founder of Cheers. «It’s genuinely humbling to have so many loyal fans who wholeheartedly stand by our mission of bringing people together by promoting fun, responsible and health-conscious alcohol consumption and who want to be an even bigger part of our successful startup journey. We look forward to continuing the disruption of the $250 billion alcohol industry, hand-in-hand with a large contingent of earnest and eager investors.»
The potential OPO proceeds will be earmarked to fund several business initiatives, most notably the expansion of Cheers product offerings, including our recently launched, first-ever Cheers Restore beverage, and the development of a national retail program. The goal is for Cheers to be used any time someone consumes alcohol—whether it’s a single drink or more.
Significant early bird bonuses are available to investors who act quickly. Outlined in detail on StartEngine, the three tiers are:
- Earliest Early Bird Bonus (Days 1-3): This will occur during the first 3 days (72 hours) after our Online Public Offering officially goes live. This will be the best possible deal for the entire offering.
- Super Early Bird Bonus (Days 4-7): This will occur during the first week after our Online Public Offering officially goes live after the conclusion of our Earliest Early Bird Bonus. This will be the second-best possible deal for the entire offering.
- Early Bird Bonus (Days 8-14): This will occur during the second week after our Online Public Offering officially goes live after the conclusion of our Super Early Bird Bonus. This deal will be the third-best possible deal for the entire offering. We anticipate this bonus special to be available from May 25 – May 31, assuming we launch when we expect to.
«Cheers’ mission to promote health-conscious alcohol consumption is working,» said Powell. «More than 300,000 customers have already purchased our effective products repeatedly and are experiencing substantial returns on their health and wellness. Now, we are opening up an investment opportunity, allowing our customers to experience the potential benefits in our rapid growth.»
The OPO comes on the heels of Cheers’ latest product launch – an innovative DHM-based beverage called Cheers Restore that utilizes the company’s new bioavailability-enhancing technology. The new product is a highly-effective drinkable version of the Cheers Restore capsules, taken either while drinking or following an individual’s final drink of the day or night. The beverage’s adaptable flavor profile even pairs well with alcohol as an added ingredient or mixer.
Cheers officially launched in 2017 after Powell, a graduate of Princeton University, spent years working with professors from fields ranging from neuroscience to biotechnology to understand the potential of dihydromyricetin (DHM) and its effects on alcohol. In 2018, Cheers made an appearance on ABC’s «Shark Tank,» and the company’s growth has continued to climb with over $25 million in sales and 13 million doses sold since its inception. By utilizing a new patent-pending DHM permeabilizer technology in its products that Cheers co-invented with and exclusively licenses from a top-ranked Ivy League university, Cheers is uniquely positioned to differentiate itself from all other DHM-based products in the market. Using patented technology and singularly focusing on alcohol-related health, Cheers is poised to continue building substantial brand equity in the more than $250+ billion yearly U.S. alcohol industry.
Please note: No money or other consideration is being solicited, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary’s platform. An indication of interest involves no obligation or commitment of any kind. Reserving securities is simply an indication of interest and implies no commitment by either the buyer or seller. If and when this offering goes live on the anticipated date of May 18, 2021 (assuming there is sufficient investor interest), please read the full Form C offering statement filed with the SEC before choosing to invest, which will be available on our intermediary portal at startengine.com/cheers.
Cheers is a leading alcohol-related health brand focused on developing products that support your liver and help you feel better the next day. As a student at Princeton, Cheers’ founder Brooks Powell discovered the potential advantage of incorporating the natural plant extract dihydromyricetin (DHM) into an after-alcohol consumption regimen and began working with professors to make products that addressed the unique challenges of alcohol-related health. Since its official launch in 2017, Cheers has sold more than 13 million doses to over 300,000 customers. The research-backed line of products includes three versions of supplemental pills and powders—Restore, Hydrate and Protect. Cheers is now releasing ready-to-drink versions of its products—starting with Cheers Restore. Each product is equipped to meet different health needs such as rehydration, liver support, and acetaldehyde exposure. Cheers places a major emphasis on the responsibility and health aspects of its mission and vision. The brand’s mission is to bring people together by promoting fun, responsible, and health-conscious alcohol consumption coupled with a vision where everyone can enjoy alcohol throughout a long, healthy, and happy lifetime. For more information, visit cheershealth.com or join the social conversation at @cheershealth.
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