More bark, more bite: BrewDog exceeds £10m crowdfunding target by more than £1.3m, and extends deadline to October 2018.
Independent craft brewery, BrewDog has today announced an extension to the investment deadline for its Equity for Punks crowdfunding programme.
- Since launching in October last year, BrewDog set out to raise £10million in an initial 90 day period, but has now raised more than £11.3million from over 24,000 investors.
- As a result of unprecedented demand, and an influx of requests for additional time to invest, BrewDog has today confirmed that it will be keeping the investment opportunity open until 15th October 2018, or until the maximum potential raise of £50million is reached.
- Shares cost £23.75 each are issued in blocks of two, with a minimum investment of two shares for £47.50.
- BrewDog’s Equity for Punks crowdfunding programme has now recruited almost 70,000 investors since its inception in 2009, and has raised in excess of £50million.
- The brewery was named in the Sunday Times Fast Track 100 for the sixth consecutive year in 2017, an achievement it believes was only possible thanks to its international community of Equity Punks.
- BrewDog’s Equity Punk investors have seen the value of their investment increase by 2,765% since 2010. Now employing more than 800 people worldwide, with 50 craft beer bars across the planet, and two world-class breweries in Ellon, Aberdeenshire and Columbus, Ohio, much of the business’ growth has been supported by Equity for Punks.
- The initial target of £10million will be used to build a new Brewhouse at BrewDog’s Ellon brewery to help fulfil volume demand across the UK and Europe.
- Further investment will be used to invest in the brewery’s first sour beer facility, The Overworks, which will launch later this month. This world-class facility will allow BrewDog to create an array of spontaneously fermented beers, as it continues to push the boundaries of craft beer.
- The funds raised before October 2018 when the round will now close will support accelerated growth across the global business including pouring £10million into launching a new craft beer brewery in Asia, and £5million to opening a facility in Australia.
- £3million is earmarked for expanding and investing in UK BrewDog bars, with plans to open 15 new bars in 2018, including four brewpub locations.
BrewDog also wants to invest £2million into creating its own TV network dedicated to craft in all walks of life, following the success of its TV show, Brew Dogs, which aired on the Esquire Network in the USA and was the most watched show about beer to ever hit the small screen.
BrewDog cofounder James Watt commented:
“The continued demand for Equity for Punks demonstrates the passion people share for our mission, our values and our beer. It’s insane to see more than 20,000 people buy a piece of our business, and with interest still proving higher than we anticipated, we have decided to extend the opportunity to invest in our company until October. Our success over the past decade is down to our engaged, passionate community of evangelistic Equity Punks – they are the lifeblood of our business, and the incredible groundswell of demand for this latest round of crowdfunding proves we’re not even close to slowing down any time soon.”