Laver & Wood, a Hawkes Bay-based cricket batmaker, announced on Wednesday it is planning to launch an equity crowdfunding campaign on PledgeMe next month. The company is seeking to raise between $250,000 and $1,000,000 which represents 5.8%–20% of the company. Shares are $1 each with a minimum investment of $500.
Founded in 2009 by master batmaker James Laver, Laver & Wood creates custom made bats for cricket players all over the globe. Laver stated:
“Our bats are an extension of the player, created to their custom specifications. Our players are discerning and tell us they play better with our bats. We already export most of our production, with the United States and Australia being our biggest markets. With this investment, we will be able to scale up our production and sales further.”
Laver then noted:
“With this investment we will be able to increase our marketing, expand our product offering, and move to a larger and more efficient factory. We believe this will help us grow five-fold in the next four years. This will be in part due to the extension of our product line, including soft goods and repairs. We will also be able to hire and train more batmakers, and set up our factory more efficiently. Crowdfunding makes sense to us. Our customers have been asking us for years if they could invest, and now they can. They love what we do, and now they can be part of what we do.”
The Laver & Wood campaign is set to go live through PledgeMe on November 3rd.
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