BrewDog raises £1m with shares sale

BeerAn independent brewery has raised £1 million in 24 hours through the sale of more than 10,500 shares to fans.

BrewDog generated the investment with its Equity for Punks crowdfunding programme, which was launched on June 20.

The company, which employs 187 people and is on course for a £20 million turnover in 2013, has made 42,000 shares available for anyone to buy online at £95 each as it attempts to raise £4 million to grow the business.

The money will fund an expansion of its Aberdeenshire brewery, bar division and a new line of shops across the UK. In return, shareholders get a lifetime discount for BrewDog bars and the online shop, the brewery said.
Members of the Equity for Punks programme are also invited to the company's AGM. This year's meeting took place last Saturday and featured punk rock bands and beer tastings.

Co-founder James Watt said Equity for Punks was "rewriting the rules of business finance" and putting customers at the centre of the company.

"We want to create a community of people who are as passionate about beer as we are and that will share in our growth," he said.

"The support of the people has always been the driving force behind BrewDog and the phenomenal success of Equity for Punks has proven how much our fans believe in our mission to redefine the UK beer scene.

"The energy and passion of our investors at this year's AGM was immense. We could never have spread the craft beer revolution as far and wide without their help and we want to show our appreciation with a rip-roaring celebration of great beer and great music."

The last Equity for Punks programme took place in 2011 and raised £2.2 million.