Headquartered in New York City, Castle Brands, Inc. is a developer and marketer of premium brand spirits in the vodka, rum, Irish whiskey and liqueurs/cordials categories. The company was formed as a holding company to facilitate the merger of the Great Spirits Company and The Roaring Water Bay Spirits Group Limited (Boru vodka) in July 2003. The company's major brands, including those by licensing agreements, are Boru Vodka (35% of fiscal 2007 revenues), Gosling s rum (29%), Sea Wynde rum, Knappogue Castle Whiskey, Knappogue Castle 1951, Clontarf Irish whiskeys, Brady s Irish cream liqueur, Celtic Crossing liqueur, and Pallini liqueurs. In fiscal 2007, 66.3% of the company s revenues were generated in the United States with the remaining 33.7% coming from international sources. In April 2006, Castle Brands completed its initial public offering of 3,500,000 shares at a price of $9.00 per share. Oppenheimer & Company, ThinkEquity Partners, and Ladenburg Thalmann & Company were the lead underwriters for the offering. In May 2007, Castle Brands completed a private placement of $21 million of common stock (3,520,035 shares) and 1.4 million warrants to institutional investors. The warrants have an exercise price of $6.57 per share and expire in five years. Management stated that the proceeds would be used for further brand development, acquisitions, and other corporate purposes.