A Six-Pack and 33 Shares to Go, Please
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Boston Beer Co., brewer of Samuel Adams Boston Lager, is selling shares the same way it sells its beer--straight to the public.
The brewer will put clip-and-mail coupons on Samuel Adams six-packs to sell its shares as part of a $75-million initial public offering. That will give consumers a rare opportunity to buy 990,000 out of 5.3 million shares at the offering price in what is expected to be a hot issue.
“I’ve never seen anything like it,” said Jerry Steinman, editor of Beer Marketer’s Insights. “It sure is a clever way to get people to buy your beer.”
In October, Boston Beer plans to start tucking a postcard with an 800 phone number in its six-packs--offering a chance to buy 33 shares at a maximum price of $15 each, or $495.
Consumers who call or mail in the postcard will get a one-page subscription form for the offering. Shares will be distributed on a first-come, first-served basis. Those who gain shares won’t know until after the offering is completed sometime in December. The deadline for submissions is Nov. 22.
“Buying your shares like this sure beats paying commissions,” said William Apfel, fund manager at U.S. Trust & Co.
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