It has long been rumored that Brammo, Inc. CEO Craig Bramscher envisions his company heading to Wall Street for an initial public offering one day, but now we are getting our first public words from Bramscher about how he hopes that his Oregonian company can go public in the next year or so.
Quoting remarks made at the Portland Business Journal Power Breakfast, the Sustainable Business Oregon is reporting that Bramscher is targeting late-2014 to mid-2015 for an IPO, with the figure of a $150 million being banded about as a fundraising goal from the public stock offering.
Before that can happen though, Bramscher says he would like to raise a total of $150 million from private investors first, and also bring Brammo into profitability before getting involved with investment bankers. To that latter point, Bramscher is said to be courting the same bankers that brought Tesla Motors onto Wall Street.
Following in the tire tracks of Tesla, Brammo would be the first electric motorcycle company to hit an IPO target; and if successful in that endeavor, it would mark not only a huge milestone for the Oregonian company, but also for the electric motorcycle segment in general.
The company still has a great deal farther to go in building out its dealer network and model lineup. With a clear growth strategy, which doesn’t involve Best Buy stores, it will be tough for Brammo to grow and be sustainable in such a short timeframe, but an IPO down the road isn’t an impossible idea.