Splash Beverage (NYSE American: SBEV), a portfolio company of leading beverage brands, has announced a proposed underwritten public offering of its common stock. According to the announcement, the proposed offering consists of 2,000,000 shares of common stock priced at a public offering of $1.55 per share, with gross proceeds of an estimated $3.1 million prior to deducting standard expenses. The proposed offering is pursuant to a “shelf” registration statement SBEV filed with the Securities and Exchange Commission (“SEC”) last year; the SEC declared the statement effective on Oct. 8, 2021. The company also announced that it has granted a 45-day option to the underwriters to purchase up to 300,000 additional shares at the public offering price. SBEV anticipates that the offering will close on or about Sept. 27, 2022. Splash Beverage has gained distribution and retail authorizations recently, and the company plans to use the proceeds from the public offering to support similar growth. EF Hutton, a division of Benchmark Investments LLC, is acting as the sole book-running manager for the offering.
About Splash Beverage Group Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and nonalcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drinks. 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 has led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. For more information about the company, please visit www.SplashBeverageGroup.com.
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