Less than one month after launching its mini bond on Crowdcube, BrewDog has successfully secured £10 million from 2,756 investors. The brewery has since closed the campaign.
BrewDog has raised more than $30 million in its ongoing crowdfunding offers in the UK, called Equity For Punks. The brewery’s USA equity crowdfunding pitch, Equity For Punks USA, has been live for several months now on BankRoll and is seeking a raise of up to $50 million under Reg A+, and BrewDog stated over $3 million has already been secured so far.
Co-founder of BrewDog, James Watts, stated:
“Our mission is to make other people as passionate about great craft beer as we are. This year, we have smashed record after record with the amount of people we’re reaching with incredible beer, many of whom have joined the ranks of our crowdfunded beer revolution by investing in Equity for Punks or the Crowdcube Bond. The money raised via this latest investment opportunity will accelerate our growth over 2017, in order to meet the crazy demand for our beer both in the UK, internationally, and in America where we’ll soon launch our second brewery.”
The brewery reported with a £500 minimum investment, the mini bond on Crowdcube generated more than £1 million during its first 24 hours, which ensured that BrewDog defended its title as the most successfully crowdfunded businesses in history. The mini bond delivers a 7.5% annual interest rate over four years, as well as discounts on brewery favorites.
Funds from the mini bond will go towards BrewDog’s global expansion efforts as well as enabling the brewery to meet the increasing demand for craft beer throughout existing and new markets. The money will also support a new sour beer facility in Aberdeenshire, expansion of the Ellon HQ, and BrewDog’s entry into the spirits industry with the launch of its LoneWolf distillery. Prototype versions of the first two batches of LoneWolf gins and vodkas were released by the spirits division this month. Other funds will go towards the BrewDog’s US brewery in Columbus, Ohio.
Sharing the exciting news about BrewDog’s mini bond success, the Crowdcube team shared on Twitter:
Congratulations @Brewdog over £10m raised in 24 days from 2,756 investors! Thank you to everyone who invested. pic.twitter.com/LEcPwo7T2B
— Crowdcube (@Crowdcube) December 26, 2016
Meanwhile, Watts, along with BrewDog’s other co-founder Martin Dickie, released a new video that shared details about the brewery’s key 2016 milestones. Check it out below.
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