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NewAge, Inc. (Nasdaq: NBEV) announced it will release its financial results for Q4 and the full year ended December 31, 2020, before the market opens on March 16, 2021. The company aims to lead in social selling and distribution, focusing on health and wellness products. A conference call will be held at 8:30 a.m. ET, with dial-in details provided for interested investors. The call will also be accessible via webcast. A replay will be available for 45 days. NewAge operates a diverse portfolio of organic products and has a network of over 400,000 distributors worldwide.
NewAge, Inc. (Nasdaq: NBEV) announced a leadership change, appointing Carin Casso Reinhardt as Chief People Officer, while Gregory Gould transitions out by July 2, 2021. CEO Brent Willis expressed optimism about Reinhardt's experience guiding the company's growth, which has exceeded $500 million in revenue. Reinhardt, with over 20 years in HR, previously worked at the National Renewable Energy Laboratory and Kroenke Sports & Entertainment. The company aims to solidify its position as a leader in social selling and distribution.
NewAge (Nasdaq: NBEV) has announced its acquisition of Aliven Inc., a leading direct selling company in Japan. This strategic move is expected to contribute approximately $20 million in annual net revenue and over $3 million in EBITDA. The acquisition will add nearly 100,000 new customers and representatives to NewAge's existing network. With this expansion, NewAge aims to accelerate growth in its largest market, enhancing its portfolio with Aliven's innovative health products.
NewAge, Inc. (Nasdaq: NBEV) has announced a definitive agreement for a private placement of 14.6 million shares at $3.96, expected to raise $58 million before expenses. Investors will also receive warrants for an additional 7.3 million shares at $5.00 each, a 28% premium. The closing is anticipated around February 18, 2021. The shares are unregistered under the Securities Act, and a registration statement will be filed within 30 days after closing to allow resale. Roth Capital Partners is the exclusive placement agent for this offering.
NewAge, Inc. (Nasdaq: NBEV) anticipates fourth quarter 2020 net revenue between $90 million, with a gross margin of 64% to 68%, and EBITDA near breakeven. This follows the successful merger with ARIIX, effective November 16, 2020, contributing to accelerated growth. CEO Brent Willis noted strong sales growth in the Americas and Europe, and a resurgence in Japan. The full financial report is set for March 16, 2021, with a conference call at 8:30 AM ET.
NewAge, Inc. (NASDAQ: NBEV) announced a new debt facility totaling $30 million, raising its unrestricted cash balance to over $50 million. The new two-year facility with JGB Management replaces an existing line of credit from East West Bank and aims to fund the ARIIX transaction and general operations. CFO Greg Gould highlighted that this financing enhances the company’s financial position and supports organic revenue growth initiatives. The merger with ARIIX is expected to improve cash generation, allowing for significant flexibility in meeting operational needs throughout 2021.
NewAge (NASDAQ: NBEV) announced the appointment of Dr. Fred W. Cooper to its board of directors, effective November 16, 2020. With over 25 years in e-commerce and direct selling, Dr. Cooper is a seasoned leader, previously serving as CEO of ARIIX, recognized as one of the fastest-growing direct selling companies. His expertise is expected to strengthen NewAge's direct-to-consumer strategy. Dr. Cooper expressed enthusiasm about guiding NewAge's strategic direction to enhance growth and profitability in the global market.
NewAge, Inc. (NASDAQ: NBEV) has successfully completed its merger with ARIIX, aiming for significant market impact. The combined company anticipates exceeding $500 million in annualized net revenue and is poised for immediate profitability.
Management expects approximately $20 million in annualized synergies and $30 million in expected EBITDA within 18 months, driven by operational efficiencies and market expansion.
NewAge, Inc. (NASDAQ: NBEV), a Colorado-based healthy products company, will participate in the Virtual Fall Investor Summit from November 16-18, 2020. The company's presentation is scheduled for November 17 at 7:30 a.m. MT, with a live webcast available on its website. NewAge is focused on organic product distribution and is set to complete its acquisition of ARIIX, expanding its reach to over 75 countries and a network of 400,000 independent consultants. This strategic move supports its mission to promote healthy living.
NewAge, Inc. (NASDAQ: NBEV) announced financial results for Q3 2020, reporting net revenue of $62.7 million, a decline from $69.8 million YoY, exacerbated by COVID-19 and qualification events in Asia. The company expects a merger with ARIIX to close by November 30, aiming to double revenues and enhance profitability. The merger could create a company with over $500 million in revenues and $30 million in EBITDA. Gross margin improved to 60%, while net loss rose to $14.1 million. NewAge's cash balance stood at $26.9 million, totaling $45.2 million when including restricted cash.
