The Artisanal Spirits Company is pleased to announce the admission of its entire issued share capital, being 69,605,774 Ordinary Shares, to trading on the AIM market of the London Stock Exchange.
The Company has successfully raised gross proceeds of £26 million in total from a combination of institutional and retail investors, including UK members of SMWS, at a price of £1.12 per Ordinary Share.
Upon Admission, the Company will have a market capitalisation (at the Offer Price) of approximately £78 million.
The net proceeds will primarily be used to fund further investment in whisky and other spirits stock, and in cask wood; the promotion of membership and business growth; existing and new venues; brand and digital development; and supply chain optimisation.
David Ridley, Executive Managing Director of the Company, commented:
“The successful fundraise and move onto the public markets, which gave our loyal and discerning members the opportunity to become shareholders, is an exciting landmark for both ASC and SMWS. Our members are at the heart of everything we do, and we believe our status on AIM will enable us to access the capital required to bring them an even wider variety of premium, limited edition whiskies, spirits and inspiring experiences.
ASC is a distinctive, fast growth, direct to consumer online business with high barriers to entry, operating in an industry with strong tailwinds. With a clear vision for the future, we believe our company is at a significant inflection point in its development, and are thrilled by the prospect of sharing our success with our new shareholders.”
Singer Capital Markets acted as Sole Bookrunner and Placing Agent, and has been retained as Nominated Adviser and Broker.
About The Artisanal Spirits Company plc
The Artisanal Spirits Company plc is the owner of The Scotch Malt Whisky Society, the leading curator and provider of premium single cask Scotch malt whisky for sale primarily online to a discerning global membership. The Company is based in Edinburgh and has a growing worldwide membership of 28,000 paying subscribers.
Ticker: ART
Market Cap: £77.96 million*
Website: Click here
*As at 04/06/2021
