James Watt said the Fraserburgh firm has already raised £2.5m towards the target since it launched the £95 per share Equity for Punks offer on June 20.
The fundraising was scheduled to close on January 22 next year but Mr Watt believes the full sum will be raised prior to that.
He said: "It will stay open until January unless we reach the target of what we need.
"We have raised £2.5 million in the first month so I am pretty confident it will close before then."
BrewDog wants to use the money to extend the Ellon, Aberdeenshire, brewery it opened earlier this year and boost annual production there ten-fold to 500,000 hectolitres.
As well as that, there are plans to build a brewing academy in London, open specialist beer shops and extend the 12-strong bar chain in the UK and overseas.
Mr Watt: "There is no down time at the moment. We are building [at Ellon] and I am looking at sites in Sheffield then Germany."
A visitor centre, bar, restaurant and shop could also be built at Ellon.
If the fundraising goes as expected, the company also intends to put money into the development of spirits brand Watt Dickie.
The 35% alcohol by volume spirit was launched in BrewDog bars during June this year, initially in six centilitre bottles.
As well as holding the stock, shareholders get a lifetime discount for BrewDog bars and the online shop plus an invite to its annual general meeting which Mr Watt described as "more like a party, with lots of beer and great bands".
The sale of the 42,000 shares, equivalent to less than 4% of the entire share capital, values the business at more than £100m.
The company made a pre-tax profit of £486,000 last year on revenue of £10.7m. Turnover is predicted to hit £20m this year and double again in 2014.
BrewDog, which employs more than 180 people, was named as the fastest growing food and drink company in the UK earlier this year.
It emerged at the time the share issue prospectus was published that former ScottishPower chief executive Philip Bowman paid £221,000 for 15,000 A shares in BrewDog which he bought from co-founder Martin Dickie.
If Equity for Punks is fully subscribed, Mr Watt will retain 37.1% of the company and Mr Dickie 32.5%.
The previous Equity for Punks programme took place in 2011 and raised £2.2 million.
No comments:
Post a Comment