Brewer has an IPA but no IPO.

Position:WESTERN REGION

Appalachian Mountain Brewery became a publicly traded company through a reverse merger, a relatively rare tactic that allows a private company to become publicly traded without an initial public offering of stock. The Boone craft brewery's shareholders include Mike Pruitt, CEO of Chanticleer Holdings, a Charlotte-based restaurant group. Shareholders put up $3.5 million of the brewery's stock to buy North Carolina Natural Energy a defunct Florida corporation, and got regulatory approval to change its corporate name and stock symbol. Pruitt was a key adviser in the...

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