Splash Beverage Group Provides Business Update Completed $8,000,000 Gross Proceeds Underwritten Public Offering to Support Growth Strategy
Splash Beverage Group (SBEV) has announced a public offering of 2,000,000 shares, aiming to raise approximately $8 million. The underwriters also hold a 45-day option to purchase an additional 300,000 shares to cover over-allotments. The offering, expected to close around February 17, 2022, is part of the company's strategy to strengthen its balance sheet and support operational growth. CEO Robert Nistico emphasized that the funds will enhance liquidity and support inventory needs to meet increasing product demand.
- Raising approximately $8 million will bolster the company's balance sheet.
- Funds will support inventory needs and operational growth.
- Company has experienced increased demand for its products.
- The public offering may lead to shareholder dilution.
Fort Lauderdale, Florida, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today gave an update on its previously announced pricing of an underwritten public offering of its commons stock, pursuant to a “shelf” registration statement filed with the U.S. Securities Exchange Commission on October 8, 2021 (the “Offering”).
As previously announced the Company will sell 2,000,000 shares in the Offering for gross proceeds of approximately
“We’re delighted to have priced this equity offering, which will strengthen our balance sheet while providing additional liquidity to finance our accelerating growth,” said Robert Nistico, Splash Beverage Group’s Chairman and CEO.
“This is the first effort to raise capital under this registration statement,” Said Nistico. “We’ve taken a very measured and disciplined approach to accessing the shelf,” Nistico continued, “deciding only to raise an amount we deemed necessary to finance our current operations and inventory needs, and provide flexibility for us to take advantage of opportunities in the sectors that we participate in. We’ve entered into numerous distribution agreements and added meaningful retail partnerships over the past few months, and we are experiencing an increase in demand for our products. This additional capital will support our efforts to provide the necessary inventory to fuel that growth.”
The Company’s shelf registration statement on Form S-3 (File No. 333-259865) was declared effective by the SEC on October 8, 2021.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev
About Splash Beverage Group, Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.
For more information visit:
www.SplashBeverageGroup.com
www.copadivino.com
www.drinksalttequila.com
www.pulpo-loco.com
www.tapoutdrinks.com
Forward-Looking Statement
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 8, 2021, and in the Company’s other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Contact Information:
Splash Beverage Group
Info@SplashBeverageGroup.com
954-745-5815
Investor Information:
TraDigital IR
John McNamara
Email: john@tradigitalir.com
Phone: (917) 658-2602
FAQ
What are the details of Splash Beverage Group's stock offering?
When is the closing date for the SBEV stock offering?
How will the funds from the SBEV offering be used?
What impact will the SBEV offering have on shareholders?
