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Pre-emption

WOOF&BREW

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We are The Pet Drinks Company. A category creator in the pet care market.

View more details of this business.
100%
 - 
Funded 24 Apr 2020
£414,414 target
£417,299 from 13 investors
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Business overview

Location St Ives, United Kingdom
Social media
Website www.woofandbrew.com
Sectors Food & Beverage Non-Digital Mixed B2B/B2C
Company number 08370145
Incorporation date 22 Jan 2013
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Investment summary

Type Equity
Valuation (pre-money) £5M
Equity offered 7.70%
UK tax relief

EIS

Campaign funding history

  • Funding round
    Raised
    Equity
  • 24 Apr 2020
    £417,299
    7.70%
    View pitch
  • 11 Mar 2019
    £912,063
    8.36%
    View pitch
  • 17 Aug 2016
    £285,793
    11.05%
    View pitch
View more details of this business.

Idea

Introduction

The 2019 Christmas run-up was difficult for retailers with Brexit and political uncertainties creating a uniquely difficult environment in early December. As a result we found ourselves behind target and substantially overstocked with product that thankfully still had a good shelf life of more than two years.

We reacted quickly to the situation, and took a number of cost saving measures: including redundancies in the media team and operations, reduced staff working hours and nearly 50% Director salary cuts. We also secured a loan of £120k (which will not be repaid out of the proceeds of this funding round).

With the recent addition of challenging trading conditions due to the onset of Corona virus, we have decided to do a quick funding round of £300k. This funding is being strictly restricted to current shareholders, and is being done on a first come first served basis at a 50% discount to the last round.

Substantial accomplishments to date

Prior to the lockdown, we had received confirmation that we were going to be stocked in all John Lewis stores would also also be selling through The White Stuff stores around the UK. Perhaps most importantly we have also secured a joint marketing arrangement with one of the largest pet food manufactures in the UK - Natures Menu. We will be supplying our drinks alongside their natural treats in hotels, cafes and pubs. The Natures Menu's sales force will also be selling our range of products in the UK and overseas.

Use of proceeds

This funding will put us on the front foot to take on the opportunities being generated by the products' growing profile in the pet food industry. We firmly believe the recent orders from John Lewis, White Stuff and Natures Menu represent a step change opportunity for the business and its valuation, and I am convinced we should not jeopardise these prospects for want of funding. Please contact me directly to participate in the round.

Key Information

The business has two outstanding business loans totalling £457k. They are both with A2K Investments Ltd which is a business owned by the Chairman. They are interest only and repayable on demand, but they will only start to be repaid out of profits of the business before any dividends are paid.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for WOOF&BREW has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 9 April 2020 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £4,999,978

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Republic Europe.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Republic Europe campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Republic Europe will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Republic Europe will not benefit from any rights under a shareholder agreement. As a result, Republic Europe will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

If available, this is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Republic Europe. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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