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EIS Crowd 19 September 2020

  • BY: Andrew Hore |
  • POSTED: 28/09/2020 |

Tellworth float offer

PrimaryBid is offering investors the chance to subscribe to new shares in investment trust flotation Tellworth British Recovery and Growth Trust. This is the first new admission that PrimaryBid’s clients have been offered.
Tellworth British Recovery is seeking up to £100m via a placing and intermediaries offer at 100p a share. The managers are Paul Marriage, John Warren and Johnnie Smith who have track records in the smaller companies fund management sector. The focus is companies that have most of their business in the UK. There are plans to raise up to £500m over the 12 months after flotation.
PrimaryBid recently helped fully listed packaging and components supplier Essentra raise £3m out of £100m raised at 260p. This will help fund the acquisition of folding cartons manufacturer 3C! Packaging for $65m (£50m).
Financial management app Snoop is launching a crowdfunding campaign via Seedrs. The company was founded by former Virgin Money boss Dame Jayne-Anne Gadhia and she says that customers have been asking if they can invest in the company. The initial target is £5m.
Snoop has been downloaded more than 100,000 times and has more than 75,000 active users. Snoop can assess products from more than 1,000 providers. The plan is to widen the types of products that are assessed. Then, Snoop will move into the small business market.
BrewDog is launching what it claims will be its last crowdfunding round. So far, £79m has been raised since 2009. A further £7.5m is being sought by the brewer. The latest cash will be invested in sustainability initiatives. This includes electric vehicle investment, wind power and CO2 recovery.
The share price is £25.15. The offer can remain open until the end of January 2021. If more money is raised then it may be invested in a brewery project in France.
The brewer remains loss-making and its sales dropped by two-thirds when Covid-19 lockdown measures took hold. However, a lower percentage of the total money raised is accounted for by unannounced fundraisings.
The PR machines of the announced fundraisings mean that they tend to be much larger.
Beauhurst says that three-fifths of UK businesses valued at more than £100m started their fundraisings with an unannounced funding round and more than two-thirds of equity investments are not announced to the public. Many companies choose to stay under the radar prior to a more significant fundraising. However, sometimes follow-up fundraisings are not announced because the shares are being sold at a lower price. 
The level of unannounced deals has not changed significantly as a percentage over the past decade.
Esports company Juked has started to raise money via crowdfunding campaign. It is trying to raise up to $1.07m. So far, $465,000 has been raised. The valuation has been set at $8.5m. On the website, the deadline has been set at 1 May 2021. Juked is developing a one-stop shop for esports viewing and engagement. 

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