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Tue 1st Sep 2015 - BrewDog issues mini-bond and seeks to raise equity investment on Crowdcube
BrewDog issues mini-bond and seeks to raise equity investment on Crowdcube: Scottish brewer and retailer BrewDog has become the first company to issue a mini-bond and seek to raise equity investment on crowdfunding platform Crowdcube at the same time. The company is seeking to raise as much as £6m through its mini-bond, paying 6.5% interest over four year. According to Moody’s Analytics, the BrewDog mini-bond is rated as having a 0.3% probability of default. It is also inviting investors to take part in its current £25m fundraising. The pitch states: “We have successfully raised equity funding before from our community but we have never issued a mini-bond. Crowdcube are the experts at that so it’s a natural choice. We’re also excited to be the first company raising both equity and a mini-bond from crowdfunding campaigns at the same time. BrewDog Bonds will be allocated in amounts of £500 or multiples thereof, on a first come, first served basis. There is no upper limit other than our overall bond limit is £6 million.” Of the general pitch, it states: “In 2010 we launched our first crowdfunding campaign, Equity for Punks. Today, we have over 30,000 Equity Punk Investors. Together we have strived to put the flavour and craftsmanship back into people’s beer glasses and built the fastest growing food and drinks business in the UK. But the craft beer revolution is just getting started, and so are we. This year, we are proud to present Equity for Punks to the Crowdcube Investor community. We want your support to help us take our business to the next level as we continue on our craft beer mission. Your investment gets you a stake in our brewery and our international network of bars. More than anything your investment is a chance to share in our future growth and join the 30,000-strong crowd of Equity Punks. As we grow you’ll have the opportunity to sell your shares on our trading platform or you can stay with us for the long haul.” One industry source stated: “BrewDog’s decision to seeks investor through Crowdcube is slightly surprising given that it has raised £14m through its own crowdfunding platform – the company website. But the current fundraising target is vast at £25m and it may be that fund-raising via its own website has started to stall and it has decided to target Crowdcube’s 200,000 registered investors to regain some momentum.”


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