BrewDog nears £11m mark in latest crowdfunding campaign but reduces ‘stretch target’ to £20m

by XPRESS, 15 January 2018

The company has so far secured £10,889,565 from 23,274 investors but the amount raised at this point is far short of its original “stretch goal” of £50m.

The campaign, which has a target of £10m, is due to close at 11am on Monday (15 January). With 2.8% equity in the business being made available at £23.75 per share, it means BrewDog values its business at nearly £2bn. It also means BrewDog has now raised more than £50m from crowdfunding since its first Equity for Punks share plan was launched in 2009. More than 69,000 people have invested in the business.

In announcing Equity for Punks V, the company said it would use the funds to expand the brewery at its headquarters, and would progress with plans to build breweries in Asia and Australia. Of the £10m initial target, £5m will be used for a new Ellon brewhouse, £3m for its Overworks project and £2m on infrastructure.

In April 2017, BrewDog sold a 23% equity stake to San Francisco-based TSG Consumer Partners for £213m. In its latest accounts for the year to 31 December 2016, BrewDog posted a £3.7m pre-tax profit on record sales of £72m.

Article Credit ; propelinfonews