Chapel Down Easily Beats Goal on Seedrs, Adds Ordinary Shareholders

Chapel Down PinotChapel Down, the first publicly traded company to raise capital via equity crowdfunding, has filed a brief announcing an additional share placement in the amount of £0.44 million.  This additional amount was in conduction with the placing of over 1.5 million ordinary shares, at 28 pence each, associated with their equity crowdfunding campaign on Seedrs.  The groundbreaking offer was only revealed on September 8th.

“The statement revealed the total raised as at close of business on Friday 12th September is £2.4m, well in excess of the initial minimum of £1.7m. The amount raised through the crowdfunding platform Seedrs in the first five days is £1.3m.”

The offer on Seedrs indicates Chapel Down is still accepting investment and the offer will remain open up to the amount of £3,953,819.  Presently 934 investors have participated in this funding round, according to the campaign page on Seedrs.  The number of investors has surpassed Seedrs previous record for a single offer of 909 investors.

 

 

Chapel Down BeerThe equity crowdfunding offer was preceded by an institutional placement of £1.1 million.  The shares will be traded on the ISDX with expectations for this to occur on September 19th.

The additional funding will aid Chapel Down to fill growing demand for its award winning products including wine and beer. The capital infusion will be used to plant more vines, build a new winery, construct new distribution and storage facilities, build a brewery and a visitor attraction.

The transition of equity crowdfunding from start-up or seed capital to providing financing for a company listed on a public exchange represents a benchmark event in the new world of finance.  Chapel Downs, with their popular consumer product, saw an opportunity to appeal directly to customers to become investors in their business.  Launching the offer on Seedrs is emblematic of the growing acceptance and efficacy of equity crowdfunding.

Thomas DaviesSeedrs Chief Investment Officer Thomas Davies commented on the placement last week stating the Chapel Downs offer was an “incredibly important day” and shows the “coming of age of equity crowdfunding”.  Davies continued this theme stating he envisions equity crowdfunding as “a major form of corporate finance going forward” with “large scale IPOs” occurring in part or entirety – on equity crowdfunding platforms.


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