Propel Morning Briefing Mast Head CPL Training Link Paul's Twitter Link Subscribe Unsubscribe Web Version Propel Info website Propel Info website Forward Email Star Pubs and Bars Banner Morning Briefing Strap Line
Wed 8th Apr 2015 - Camden Town reduces valuation by £25m
Camden Town reduces valuation by £25m: Camden Town Brewery has reduced its eye-watering £75m valuation on crowdfunding platform Crowdcube to £50m after an unnamed set of investors began talks to buy a 20% stake for £10m. Previously, the company had valued itself at £75m despite turnover currently standing at just £9m - it sought to raise £1.5m for a 2% stake, which it achieved several weeks ago. This evening, in a surprise move, the company radically adjusted it own valuation after the approach, reducing is value by £25m, which means the 2061 investors who have far pledged £2,214,920 will now receive 4.37% of its equity. Founder Jasper Cuppaidge said: “Although just over £2m raised in 45 days is an eye-watering achievement, things don’t just stop there. Recently we were approached by a small group of investors who wanted to look at other ways they could back the brewery. Since then we have had quite a few get-togethers and they’ve been taking a close look at us to see how we operate. To cut a long story short, we’re very happy to announce that we’ve just agreed to preliminary terms and, subject to due diligence, they will be investing up to £10m for 20% of the shares in the business, the majority of which will be used to fund the brewery and other expansion project requirements. We have now signed heads of terms for the proposed investment. This does not mean that the investment is finalised, but we do expect the programme of due diligence to be wrapped up within the next eight to ten weeks. Now, this is great news for our Crowdcube investors because, to bring in this new investment, we’ve agreed to adjust the post-money value of our business to £50m (down from £75m). So to anyone who’s invested via Crowdcube, this mean that your stake just got a ‘Hells’ of a lot bigger. Crowdcube has accepted our request to extend the closing date to midnight 21 April to give (investors) the time to understand what we have been comfortable to agree to with our new proposed partners, and to facilitate their investment.” 


Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Quarterly Spring 2018view online
 
Propel Premium
 
Lowlander Beer Co Banner
 
Funkin Banner
 
Franklin and Sons Banner
 
Jagermeister Banner
 
Ei Group Banner
 
Greene King
 
Catapult Banner
 
Freeths Banner
 
Venners Banner
 
Star Pubs Banner
 
HGEM Banner
 
Zonal Banner
 
Hastee Pay Banner
 
COREcruitment Banner
 
Diageo Sky
 
Access Banner
 
Freeths Banner
 
Venners Banner
 
liveRES Banner
 
Pipers Crisps Banner
 
Tahola Banner Tahola web link
 
Lincoln & York Banner
 
Punch Taverns Link Punch Taverns Link
Greene King Banner
ALMR Web Link Web Version Unsubscribe Subscribe Propel Info website