Brewdog on track to surpass £10 million crowdfunding target

Irreverent Aberdeenshire brewery Brewdog is on track to become one of the biggest craft beer producers in the world through the power of crowdfunding.

BrewDog founders Martin Dickie and James Watt

Brewdog, founded by school friends James Watt and Martin Dickie in 2007, raised over 20% of its £10m target just days after launching the fifth round of its Equity For Punks crowdfunding scheme earlier this month.

In this latest cash call, the Scottish brewer plans to raise between £10m and £50m to expand the business globally.

The fundraising, which launched on 18 October, will run for an initial three months, closing in January 2018.

After this, shares priced at just under £24 each will be issued in blocks of two meaning the minimum investment will be £47.50.

Brewdog has already received more than £2m of investment from beer fans. If their taste for the brand continues, the drinks maker could beat their target by December.

Earlier this week, Watt also suggested that Brewdog could float on the New York Stock Exchange, following the company’s expansion into the US market in recent years.

Back in March, the brewer announced plans to open a 50-room craft beer hotel in Columbus, Ohio.

“It will all depend on market conditions and when we can get the best return for our equity punk investors,” he told City A.M. “There’s certainly no plans to do it in the next 12 to 18 months.”

New facilities in Asia and Australia are just two major operations which will need funding in the next three years, alongside a dedicated sour-beer production facility in the UK.

In July, the Aberdeenshire-based brewery appointed former head of HR Zarah Prior to scout for potential brewery locations in Australia.

Brewdog will also focus on the launch of two new London bars; one in the financial district, and another in Covent Garden.

Brewdog has been approached for comment.

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