Instead of a cash dividend, A Class shareholders will receive a $200 bottle of premium Barossa Shiraz each year as well as other benefits and experiences.
Powell, 60, says his business has been hit hard by the Covid lockdowns, the China tariffs and shipping delays.
“We’re certainly not alone there,” he says, “but we want to be proactive and try something different.”
The funds raised will be used for working capital including the purchase of key vineyards and a new winery.
“I am currently the sole shareholder in the company and this capital raising will enable individuals to come along with me for the ride,” Powell says.
“It’s a unique opportunity to own a small slice of a premium, boutique fine wine business.
“You will have access to special pricing on any future purchases, priority access to all our wines depending on production quantities and exclusive access to very limited releases.
“I must point out that being a boutique producer, wine quantities will always be limited as I have no intention of making more and more wine just because I can.
“My aim is to encourage as many people as possible to join in, so the offer will be very limited to any one individual.”
On top of the financial boost, Powell also sees the benefit of bringing together an international community of like-minded wine aficionados.
“I see this as a really sustainable wine business model,” he says.
Powell created the wildly successful Torbreck Wines in 1994, but moved on in 2013 after a bitter dispute with his then business partner, American entrepreneur Pete Kight.
He launched a collection of high-end wines under the new entity Powell & Son with his son, Callum Powell, in 2016.
Callum moved on to start his own label and Dave changed the name of the winery to Neldner Road, focusing on high-end Barossa red wine.
One of the winery’s most important vineyards – as well as Powell’s home – is on Neldner Road, in the heart of the western Barossa.
Neldner Road has two $750 flagship wines, the Kraehe Marananga Shiraz 2017 and Steinert Flaxman’s Valley Shiraz 2017.