Amphitrite Digital

General Information
Business:

We offer maritime tours and attractions in the U.S. Virgin Islands and the continental United States. (Incorporated in the U.S. Virgin Islands) 

Our mission is to provide exceptional vacation or staycation tours, activities and attractions to our guests while staying committed to delivering industry leading unique, fun, and educationally memorable experiences. We believe that our boats, yachts and ships are increasingly versatile, allowing consumers to use them for a wide range of maritime based tours and activities that enhance the experience on the water with family and friends. Whether a day, a week, or a lifetime, we provide our guests the “Best Day of Their Vacation.” We believe that the performance, quality, value and multi-purpose features of our maritime vessels, combined with our operating processes and platforms, built from the foundation of best-in-class digital technology, position us to achieve our goal of becoming the market share leader in North America and the Caribbean in the expanding maritime tour activity and attractions market.

We provide award-winning in-destination tours, activities and attractions (“TAA”) in the continental United States and the United States Virgin Islands (“USVI”) using itineraries that feature up-close encounters with marine wildlife, nature, history and culture, and promote guest empowerment and interactivity. We have pioneered innovative ways to allow our guests to connect with exotic and remote places. Many of these maritime expeditions involve travel to top vacation destinations such as the USVI, Panama City Beach, Florida, and Chicago, Illinois. We have been the recipient of TripAdvisor’s 2022 and 2023 Travelers Choice Award, and we were voted the Best Day Sail operation by the Virgin Islands Daily News for 2021 and 2022. We own 14 luxury catamarans and power boats in the USVI, 12 catamaran yachts and power boats in Panama City, Florida, and offer a variety of maritime tours on Lake Michigan from Chicago on the Tall Ship Windy, a 148-foot, traditional four-masted topsail schooner ship designated as the official Tall Ship Ambassador for the City of Chicago.

We anticipate our acquisition of the Paradise Group of Companies (“PGC”) will be completed upon the consummation of this Offering. PGC currently manages and operates privately owned luxury yachts valued at over $55 million. PGC manages and operates 36 luxury yachts in the USVI and British Virgin Islands on behalf of yacht owners, including marketing weeklong, all-inclusive luxury yacht vacations, general yacht management and maintenance, term charter clearing agent services for an additional 12 yachts in the Virgin Islands, and yacht sales brokerage services.

Our operating business units include: 1. Seas the Day Charters USVI and Magens Hideaway on St. Thomas, USVI, through our wholly owned subsidiary, STDC Holdings Incorporated (“STDC Holdings”), a USVI C-corporation, 2. Windy of Chicago, through our wholly owned subsidiary, Windy of Chicago Limited, a corporation formed in Illinois, and 3. Paradise Adventures Catamarans and Watersports in Panama City Beach, Florida, through our wholly owned subsidiary Paradise Adventures LLC, a Florida limited liability company. Additionally, upon the consummation of this Offering, it will include 4. The Paradise Group of Companies in the U.S. and British Virgin Islands, through our anticipated acquisition of PGC. PGC consists of five entities which have common ownership and control. PGC includes Paradise Yacht Management, LLC, formed in July 2015, and its wholly owned subsidiary PYM (BVI) Ltd, formed in May 2022; Paradise Yacht Sales, LLC, formed in November 2019; CharterSmarter, LLC, formed in August 2020; and Paradise Yacht Clearing, LLC, formed in August 2021, (collectively referred to as “PGC” or “Paradise Group of Companies”). Upon our acquisition of PGC upon the closing of this Offering, PGC will become a wholly owned business unit.

In the preceding 12 months ended Sept. 30, 2023, more than 77,000 guests have experienced one of our maritime tours or yacht charters. 5.24 million unique users visited our websites and social media sites to plan their activities. 98% of guest reviews of Amphitrite’s business unit services are positive reviews; 3-star (average) to 5-star (exceptional) reviews. From July 30, 2019 through September 30, 2023 on a cumulative basis, our operating units have received more than 10,100 reviews on major consumer review sites; Google Reviews, TripAdvisor, and Facebook. Of those reviews on a 5-star scale, 95% were 5-star reviews, 2% were 4-star, 1% were 3-star and 2% were 2 or 1-star reviews.

Note: Net loss and revenue are for the 12 months that ended Sept. 30, 2023.

(Note: Amphitrite Digital Inc. postponed its IPO, effective Tuesday, March 5, 2024, “due to market conditions” – just hours ahead of its expected pricing.)

(Note: Amphitrite Digital Inc. cut the size of its IPO by 30 percent in an S-1/A filing dated Jan. 23, 2024: The IPO was reduced to 1.75 million shares – down from 1.9 million shares originally – and the price range was cut to $3.50 to $4.50 – down from $4.25 to $6.25 – to raise $7 million. In that same filing on Jan. 23, 2024, Amphitrite Digital changed its sole book-runner to Kingswood Investments – replacing Maxim. This is an NYSE – American Exchange listing.)

(Background: Amphitrite Digital Inc. filed its S-1 on Nov. 7, 2023, and disclosed terms for its IPO: 1.9 million shares at a price range of $4.25 to $6.25 to raise $9.98 million. The company submitted confidential IPO documents to the SEC on June 16, 2023.)

Industry: Tours - Water Transportation
Employees: 51
Founded: 2015
Contact Information
Address 6501 Red Hook Plaza, Suite 201-465 St. Thomas, Virgin Islands, U.S., 00802
Phone Number 1-340-642-3895
Web Address https://www.amphitritedigital.com/
View Prospectus: Amphitrite Digital
Financial Information
Market Cap $53.76mil
Revenues $7.08 mil (last 12 months)
Net Income $-5.7 mil (last 12 months)
IPO Profile
Symbol AMDI
Exchange NYSE - American
Shares (millions): 1.8
Price range $3.50 - $4.50
Est. $ Volume $7.0 mil
Manager / Joint Managers Kingswood Investments (Division of Kingswood Capital Partners)
CO-Managers
Expected To Trade: 3/6/2024
Status: Postponed
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change