Just when you thought it was safe to go out.......... Brewdog launch another $10m punk equity round in the USA.
Each one of the 800,000 new shares in the US subsidiary, is going for $50. As you can see from the comments we didnt do a very job guessing the valuation. Its a lot. The now rather tattered fat cats were once again thrown from a helicopter over the City. I do hope the reaction to the funding is more imaginative.
The one crucial issue with BD is cash - they have stuck themselves a very long way out there - sort of a Napoleonic advance on steroids. There can be no retreat if the cash runs dry.
Should be fun to watch.