Beer

Chur! Behemoth hits $1.8m capital raise target

Brent Melville
Mon, 07 Dec 2020

Chur! Behemoth hits $1.8m capital raise target
Brent Melville
Mon, 07 Dec 2020
Auckland’s Behemoth Brewing tapped into investors’ thirst for craft beer ventures, taking just 20 minutes to raise $1.8 million through online crowd funder Snowball Effect.The capital raising, which sold a 5.04 percent equity at a share price of $1.32, values the business at $34 million. That is $10.8 million more than at last year’s capital raising when the brewery booked $2.06 million from new wholesale and individual investors at a valuation of $23.2 million.Those funds were used to pay for the fit-out of Churly’s, it...

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