Page 3 - BrewDog Case Study

This latest round of EFP aimed to raise an initial target of

£7.5m, but with a goal of £50m, by releasing 298,210 B

shares. The round would run for an initial 150 day’s closing

in January 2021. Shares would cost £25.15 each and be

issued in blocks of two, with the minimum investment of

two shares for £50.30.

By October 2020, the fund had reached its initial £7.5m

target raising £1.2m in 48 hours of the launch. The target of

raising £50m by January 28, 2021 seemed well on track as
BrewDog had already built a community of 90,000 Equity

Punk investors.

Since being founded in 2007 by James Watt and Martin

Dickie BrewDog had sought to introduce craft beer to the

market, at a time when lager was king. They wanted to

break free from the “boring” industrialised beer brands that
pervaded the nation.

BrewDog’s mission is to “to

revolutionise the British beer
industry and redefine British

beer-drinking culture” centered

upon Watt and Dickie’s vision

that they "make beers that we

want to drink ourselves"

“Above all else, the BrewDog

brand is a lesson in ignoring

boring, lifeless mission

statements. Today, true success

in the business world isn’t just about “finding a gap in the

market”. It’s about finding your crusade – something that