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Stock impact report

BrewDog founder accuses new owner of wiping out small shareholders [Yahoo! Finance]

Tilray Brands, Inc. (TLRY) 
Last tilray brands, inc. earnings: 3/2 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
James Watt has blamed BrewDog's new American owners for leaving thousands of early investors out of pocket. The Scottish entrepreneur, who founded the craft beer business in 2007, said he was “disappointed” by Tilray Brands' decision to wipe out BrewDog's so-called “equity punks” in the wake of a rescue deal. Mr Watt has criticised Irwin Simon, Tilray's chief executive, after he failed to buy back BrewDog during an emergency sale process. He had styled himself as a white knight to safeguard BrewDog's army of smaller investors but was ejected from the auction at the eleventh hour. This led to Tilray securing BrewDog's brand, brewery and 11 of its pubs for just £33m this month. TSG Consumer Partners, the private equity firm that bought into BrewDog in 2017, walked away from the sale empty-handed, as did Mr Watt and co-founder Martin Dickie. The equity punks' investments were also wiped out. Mr Watt said: “BrewDog was my whole life for almost two decades, and despite all the Show less Read more
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