With over half of Americans consuming alcohol regularly, we are confident that the Cheers brand is ready to grow in terms of both the products and services we offer in the category, as well as where they can be purchased.” – Brooks Powell, CEO and founder of Cheers
May 04, 2021
Today, Cheers, a leading alcohol-related health brand, announced that it is “testing the waters” for the planned launch of its first online public offering set to take place May 18, 2021 through StartEngine with the hope of raising up to $5 million in funding, the highest amount a company can secure under the newly revised Regulation Crowdfunding, which allows companies to raise capital online through both accredited and non-accredited investors. The revised regulations permit companies to establish investors’ interest in an offering before filing an offering statement with the SEC.
“The steady growth that Cheers has seen since our inception exemplifies the need we are meeting through our brand of alcohol-related health products ranging from liver support to feeling better the day after drinking. With over half of Americans consuming alcohol regularly, we are confident that the Cheers brand is ready to grow in terms of both the products and services we offer in the category, as well as where they can be purchased,” says Brooks Powell, CEO and founder of Cheers. “This round of funding would enable our team to further build an extensive line of products meant to further our company’s mission of bringing people together by promoting fun, responsible, and health-conscious alcohol consumption. Through this fundraising round, potential stakeholders would be investing in an organization that is changing the way people think about the intersection of alcohol and health. The fact of the matter is, people want to be able to consume alcohol without throwing health-consciousness out the window, and we’re helping to resolve that challenge.”
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 patented 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 $220+ billion yearly U.S. alcohol industry.
“This next phase of growth is a pivotal and exciting time for our entire company. Cheers is pioneering an entirely new category with alcohol-related health, and our expansion into retail will help further establish the already growing norm for health products taken around the time of alcohol consumption,” says Dalia Steichen, creative director at Cheers. “Our vision is to help shape a world where everyone can enjoy alcohol throughout a long, healthy, and happy lifetime. Our focus on function-first products in a form-first industry paired with our commitment to alcohol-related health, research, and education is what sets us apart and brings customers back time and again to a brand they can resonate with and trust.”
Following the launch of the company’s planned online public offering, Cheers intends to release a beverage version of their popular Restore product utilizing the company’s new bioavailability enhancing technology. This beverage would be the most innovative DHM-based product on the market, and the company believes it will be the driving force behind Cheers’ expansion into retail. The goal is for Cheers to be used any time someone consumes alcohol—whether it’s a single drink or more.
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 the 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. 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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