Record crowdfund raises stakes on BrewDog exit route
Punk investors will seek an exit route
More beer fans invested in BrewDog’s latest crowdfunding campaign than in the four previous rounds combined, said the company.
The company raised £26.2m through Equity for Punks from 50,000 investors, bringing the total number of shareholders across the five rounds to 94,000.
Launched in October 2017, this round set out to raise £10m, a target it reached in under 90 days. The shares were priced at £23.75 each and issued in blocks of two, with a minimum investment of two shares for £47.50.
However, pressure will increase for the company to pursue an exit route for its army of shareholders who face a restrictive once-a-year window for selling their shares, with no guarantee of realising their full value. The company has recently hinted at a flotation, either in London or New York that would improve liquidity.
The funds raised through Equity for Punks V will support expansion of the breweries in Ellon, Aberdeenshire and Columbus, Ohio, as well as accelerating the construction of its brewery in Brisbane, Australia, and its plans to build a brewery in China.
The brewer was recently named in BrandZ’s Top 75 Most Valuable Brands 2018 list as not only the UK’s most valuable alcohol brand, but also the only beer brand to appear on the list.
James Watt, co-founder of BrewDog commented: “Equity for Punks V is the most successful equity crowdfunding round the world has ever seen, and we’re thrilled to have expanded our awesome global community, which is the lifeblood of our business.
“The craft beer revolution shows no sign of slowing down, with thousands more joining the BrewDog fold and demonstrating their support for a business built on passion and soul.
“Our Equity Punks are the beating heart of our business, and central to our success today and in the future. Together we are driving forward our mission of making as many people as passionate about craft beer as we are. We’re proud to have an army of X behind us, joining us on this wild ride, sharing in our success and helping shape the business we become.”