Red Wagon Creamery is 1st SME to Complete “Community Public Offering” in Oregon

Red wagon funded

Red Wagon Creamery has raised capital using Oregon’s intrastate investment crowdfunding exemption. The listing on HatchOregon  raised its max goal of $120,000 in equity in the first “Comunity Public Offering”.  Available only to residents of Oregon, local businesses may raise up to $250,000 in total under the crowdfunding exemption. An individual investor may kick in no more than $2500.  Red Wagon Creamery got the support of 173 Oregonians, according to Hatch.  Reportedly Representative Tobias Reed bought the last available share. The successful offer is indicative of the “Locavesting” push that has cropped up in other parts of the country. The new funding will be used to grow the business (of course) – thus benefiting the local economy. The offer is publicly listed on the web site, but potential investors must certify they are state residents prior to viewing.

 

Amy Pearl, Hatch Innovation Executive Director, stated that for the first time in Oregan’s history, all Oregonians have the choice to put their money in people places and products they love.

“We’re now real stakeholders in our economy. This is the most transformative finance tool in the history of Oregon.”

Red Wagon Creamery 2Red Wagon Creamery is a small batch, artisan ice cream company. The company takes pride in taking no shortcuts; only ice cream made from local dairy and produce.

Hatch Oregon is part of Hatch Innovation – an entity created to fill the funding void for the many small / startup companies in the state.

Oregon is one of many states that has legalized investment crowdfunding within the borders of the state. Forthcoming rules under Title III of the JOBS Act may, or may not, diminish the need for intrastate crowdfunding rules.

 


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