NewAge (NASDAQ: NBEV), a Colorado-based social selling and distribution company with a global network of independent brand partners and distributors, announced that it has closed a $58 million private placement. The placement was conducted with certain investors. According to the announcement, the placement included 14.6 million shares of common stock. The shares were offered a $3.96 per share purchase price, and each share also included a warrant allowing the holders of the shares to purchase up to 7.3 million additional shares. Those additional shares will be sold at $5 per share, which represents a 28% premium based on the most recent closing price. Roth Capital Partners acted as sole placement agent for the offering.
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About NewAge Inc.
NewAge is a purpose-driven firm intending to become the world’s leading social selling and distribution company. Colorado-based NewAge commercializes a portfolio of organic and healthy products worldwide through primarily a direct route-to-market system. The company competes in three major category platforms including health and wellness, healthy appearance and nutritional performance, and leads a network of more than 400,000 exclusive independent distributors and brand partners around the world.For more information about the company, please visit www.NewAge.com.
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