In the news release, Basil Street Announces Reservation Period For A+ Raise, issued 26-Jul-2021 by Basil Street over PR Newswire, there was an incorrect hyperlink at the end of the release (RESERVATIONS DISCLAIMER paragraph). Correct link is: https://www.seedinvest.com/Basil.Street.Cafe/series.b - and it has been revised in the corrected release below:
Basil Street Announces Reservation Period For A+ Raise
The gourmet pizza brand begins crowdfunding efforts after successful 2020 pilot program
LOS ANGELES, July 26, 2021 /PRNewswire/ -- Over four billion pizzas are consumed in the United States annually according to IBIS World. Coupled with the rise of the global kiosk market driven by consumer demand for affordable food options on the go, Basil Street is looking to change how Americans enjoy the Italian specialty. Through a patented, automated, cooked-to-order kiosk, and on the heels of a successful 2020 pilot program, the gourmand-focused brand announced today their official Regulation A+ round filing and commencement of their crowdfunding reservation period.
Following the brand's initial $10 million raise in April 2020, Basil Street recently completed a pilot program of their automated pizza kitchens (APKs) and received positive reviews from customers. The pilot consisted of five APKs in California, Texas, North Carolina, and Nevada. Patrons had the opportunity to experience the stand-alone kiosks' signature pies featuring fresh ingredients, utilizing a proprietary cooking process that in approximately three-minutes delivers a brick oven-style pizza experience similar to those found in one's local favorite pizzeria. Looking forward, Basil Street, a pizza kiosk brand that has received NSF and UL certification, plans to have about 50 APKs placed across the country by fall 2021 and aims to expand to up to 100 APKs by year end. Locations targeted for kiosk placement include universities, airports, and other high-traffic areas, further illustrating the growth potential and customer interest surrounding the technology.
"Automated food kiosks are accepted globally as a viable option for meals on the go. As the need for contact-free solutions rises in the U.S., we have successfully combined America's favorite meal with patented technology to deliver restaurant-quality food at the touch of a button," said Deglin Kenealy, CEO of Basil Street. "We are excited to take this next step and engage our supporters to become a part of the pizza robotic community through participation in our crowdfunding efforts. With over $47 billion in revenue generated in the U.S. Pizza Industry, the opportunity to transform this market is here."
Basil Street's APKs feature three rotating 10-inch Italian style, thin-crust pizza with a price point between $4.95-$14.95. Selections at each APK will vary and rotate, but include classic staples such as four-cheese, pepperoni, and supreme, alongside seasonal "Pizza of the Month" offers. All of Basil Street's pizzas are made with fresh ingredients and then flash-frozen to preserve nutrients, flavor and freshness before being cooked to order. The approximate three-minute cooking process utilizes their patented three-element non-microwave speed oven. The combination of patented oven technology and pizza quality creates a finished product similar to a brick oven pizzeria.
Basil Street's business model focuses on providing value and great tasting, high-quality, products for its customers. To ensure these values, Basil Street expects to restock machines frequently, utilizing among the best locally sourced ingredients to create a quality product for the masses.
For more information on Basil Street's automated pizza kitchens and updates on crowdfunding efforts, including required SEC disclaimer for all press coverage, please email basilstcafePR@thebrandamp.com. Further information on Basil Street can be found on its website at www.basilstreetpizza.com.
The Brand Amp
Basil Street is accepting reservations for an Offering under Tier II of Regulation A. No money or other consideration is being solicited, and if sent in response, it will not be accepted. No sales of securities will be made or commitment to purchase accepted until qualification of the offering statement by the Securities and Exchange Commission (the "Commission") and approval of any other required government or regulatory agency. A reservation is non-binding and involves no obligation or commitment of any kind. No offer to buy securities can be accepted and no part of the purchase price can be received without an Offering Statement that has been qualified by the Commission. A Preliminary Offering Circular that forms a part of the Offering Statement has been filed with the Commission, a copy of which may be obtained from Basil Street: https://www.seedinvest.com/Basil.Street.Cafe/series.b
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SOURCE Basil Street