Splash Beverage (NYSE American: SBEV), a portfolio company of leading beverage brands, has secured funding for expanded distribution through an offering of common stock. The offering is for gross proceeds of an estimated $3.1 million, before deducting for underwriting discounts, commission and other expenses. In the announcement, the company noted previously announced distribution and retail chain agreements with an array of entities, including Target stores, ampm, Circle K, 7-Eleven, UNFI, Carey Distributors, Wantz Distribution, Central Distribution, Buck Distributing, and Lohr Distributing, among others. “This capital raise is to ensure we have sufficient inventory to fill orders and support the significant gains in distribution and chain retail authorizations for all our brands,” said Splash Beverage chair and CEO Robert Nistico. “We have announced numerous distribution and retail chain agreements recently, and it is critical to have sufficient inventory to support this activity, Additionally, it is imperative we do not run out of stock at this inflection point as our brands accelerate at retail, and we continue to add chains retail business. . . . This is a very exciting time for us.”
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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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