BrewDog passes £16m in Equity for Punks V fund-raise

by XPRESS, 23 May 2018

The company set out in October 2017 to raise £10m in an initial 90-day period and has now secured £16,125,727 from 34,342 investors.

The campaign was due to finish in January but BrewDog extended the campaign until Monday, 15 October or until the maximum potential raise of £50m is reached.

With 2.8% equity in the business being made available at £23.75 per share, it means BrewDog values its business at £1.8bn.

The initial target of £10m was used to build a brewhouse at BrewDog’s Ellon brewery and invest in the company’s first sour beer facility, The Overworks.

The funds raised before October will support accelerated growth across the global business, including £10m to launch a craft beer brewery in Asia and £5m to open a facility in Australia.

A further £3m is earmarked for expanding and investing in UK BrewDog bars, with plans to open 15 bars in 2018, including four brewpubs.

BrewDog also wants to invest £2m to create its own television network dedicated to craft beer.

The company stated in its blog: “This investment is turbo-charging our fight for better beer!”

Earlier this month, BrewDog founders James Watt and Martin Dickie revealed they were turned down by the producers of BBC television series Dragons’ Den in 2009.

Their pitch would have offered the Dragons 20% of the business for £100,000.

The company recently appointed Jason Marshall to the newly created role of chief financial officer.

The company will launch its latest bar – BrewDog Angel – in Essex Road, Islington, on Friday, 1 June

Article credit: Propel info