Nine Line

About the offering

Nine Line Apparel is a vertically integrated patriotic apparel company that designs, manufactures, and sells clothing and accessories honoring veterans, first responders, and patriotic Americans. Founded in 2012 by Army veteran Tyler Merritt after a fellow service member was gravely wounded in combat, the company is headquartered in Savannah, Georgia and operates from a 60,000-square-foot facility housing corporate offices, production floor, warehouse, and flagship retail showroom. Business Model Nine Line maintains full control over its value chain—design, screen printing, embroidery, and fulfillment—enabling rapid production, branding flexibility, superior quality control, and stronger margin management. The company operates across three channels: direct-to-consumer (DTC), wholesale (partnerships with Sportsman's Warehouse, Murdochs), and retail. Nine Line owns five stand-alone retail stores and operates three additional locations in partnership with Black Rifle Coffee Company (BRCC). Strategic Partnership Nine Line serves as the preferred vendor managing merchandising apparel, BRCC consumables, and branded products across all 42 BRCC retail outlets, plus online and wholesale channels. The company also provides third-party logistics (3PL) services to partner brands. Intellectual Property The company owns the design and utility patent for the Tailgater Hoodie, which has gained traction in collegiate and professional sports markets including Georgia Southern University and the Savannah Bananas baseball team. Financial Performance Revenue grew from $34.0 million in FY2023 to $39.8 million in FY2024 (17% growth), driven by substantial lift in 3PL and wholesale channels. Gross margins improved from $14.3 million (42%) to $17.8 million (45%) through purchasing power efficiencies and economies of scale. Operating expenses increased modestly from $13.3 million to $13.9 million while expenses as a percentage of revenue declined due to technology and systems improvements. The company is profitable and revenue-generating. Liquidity & Capital Resources As of November 2025, Nine Line had approximately $3.1 million cash on hand against $4.4 million total debt, resulting in approximately $1.6 million excess funds available. An additional $1.5 million line of credit from Truist Bank is readily available (with up to $3 million total LOC capacity). The company states funds from the crowdfunding campaign are not critical to operations or viability. Indebtedness A $1 million note payable to Bella + Canvas, LLC at 5.3% interest matures May 9, 2026, with an option to repay with interest or convert to Class A Common Stock at a $40 million valuation. Future Roadmap Plans include a 50,000-square-foot expansion of the Savannah headquarters to double manufacturing and fulfillment capacity. The company recently leased an adjacent 10,000 SF building for 12 months as interim expansion. Growth strategy focuses on new store launches, enhanced private label capabilities, deeper partnerships, and category innovation. Competition Key competitors include Grunt Style (bold patriotic messaging, significant market share and social media following), Til Valhalla Project, and BRCC-branded apparel. Nine Line differentiates through vertical integration, domestic production, authentic philanthropy, mature brand tone, and structured retail partnerships. Corporate Structure Nine Line Inc. was incorporated June 4, 2025 in Georgia as a holding company and successor issuer to Nine Line Apparel, LLC (formed June 28, 2012). All intellectual property is owned or exclusively licensed by the operating subsidiary. Litigation One pending premises liability case (Richard Santoro v. Nine Line Apparel, LLC) is being defended and covered by Hartford Insurance commercial general liability policy.

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