BrewDog Files for New $39 Million Reg A+ Offering

BrewDog USA has filed a new Form 1-A indicating its intent to raise capital via Reg A+. According to the Offering Circular, BrewDog is seeking to raise up to $39 million at a price of $60 per share. BrewDog USA is majority owned by BrewDog plc in the UK.

BrewDog plc claims to hold the title of the world’s biggest online equity-based crowdfunding campaign. To date, BrewDog has raised over £69 million via its “Equity for Punks” campaign. BrewDog boasts a community of over 105,000 investors – each becoming brand advocates.

In 2016, BrewDog launched its first crowdfunding raise in the US under Reg A+. The offering as part of the JOBS closed on July 28, 2017, raising approximately $7 million from more than 8,000 investors.

A second Reg A+ soon followed in 2018 when BrewDog raised more than $2,200,000 from over 6,200 investors.

BrewDog USA is based in Canal Winchester, Ohio, near downtown Columbus – the state capitol. The facility is said to reach approximately 50% of the U.S. population within 500 miles.

As part of the Reg A+ filing, BrewDog shares some information on operational performance.

Total revenue for 2018 was about $17.2 million. The year prior that number was just $4.9 million.

The young brewery is still generating a loss. During 2018, BrewDog USA lost $2.5 million. That loss was considerably higher at $6.99 million.

Any funds raised will be used for construction and equipment as well as business expansion.

The offering is yet to qualify but given this is old hat by now, expect the SEC to approve the filing sooner rather than later.


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