Scottish brewer BrewDog is seeking to become the 'biggest equity crowdfunded business of all time' as it looks to its supporters to raise £10million, with the potential to extend to £50million.
The company is releasing 421,052 new B shares in order to fund its global expansion plans, including the construction of new breweries in Australia and Asia, and the opening of 15 craft beer bars in the UK, including four brew pubs. It also plans to increase the capacity of its UK brewery, and create a dedicated craft beer TV network.
The funding drive will close on 15 January 2018, with shares on sale for £23.75 each. However, they will be issued in blocks of two, with a minimum investment of two shares for £47.50.
'The latest round of Equity for Punks will make us the biggest equity crowdfunded business of all time, having already raised over £41 m from a community of tens of thousands of misfits, forging a new kind of business model founded on craft, community and conscience,' BrewDog co-founder, James Watt, said.
'Our Equity Punk investors haven’t just supported the growth of an organisation now valued at over £1 billion, they have inspired the creation of a model that will give away 20% of its profits to its team and charitable causes via our pioneering "Unicorn Fund".'
The initial target of £10 million will be used to build a new brewhouse in Ellon, Scotland, to fulfil volume demand across the UK and Europe. It will also be used to develop the company’s first sour beer facility, The Overworks, which will launch later this year.
Any funds raised above its initial target up to a maximum of £50 million will be used to fund a new brewery in Asia, estimated to cost £10 million, and £5 million to open a brewery in Australia. A further £2 million has been earmarked to create iBrewDogs own TV network which will be 'dedicated to craft in all walks of life'. A TV series called Brew Dogs, aired on the now defunct Esquire Network in the USA in 2013.
The company now has an 800-strong global team, 47 bars around the world, and two breweries in Ellon, Aberdeenshire and Columbus, Ohio.
In May, Imbibe reported BrewDog's UK sales increased by 97%.