UPDATE: Splash Beverage Group Inc. Announces Pricing of $15.0 Million Public Offering and Uplisting to NYSE American
June 10 2021 - 7:34PM
via InvestorWire – Splash Beverage Group, Inc. (NYSE American:
SBEV) (the “Company”) (https://www.SplashBeverageGroup.com), a
portfolio company of leading beverage brands, today announced the
pricing of its underwritten public offering of 3.75 million shares
of common stock and warrants to purchase up to 3.75 million shares
of common stock at a public offering price of $4.00 per share and
accompanying warrant for aggregate gross proceeds of $15.0 million
prior to deducting underwriting discounts, commissions, and other
offering expenses. Each warrant is exercisable for one share
of common stock at an exercise price of $4.60 per share and will
expire five years from issuance. The common stock and warrants are
immediately separable and will be issued separately. The common
stock and warrants are expected to begin trading on the NYSE
American, on June 11, 2021, under the symbols “SBEV” and
“SBEV WS,” respectively.
Kingswood Capital Markets, division of Benchmark
Investments, LLC, is acting as sole book-running manager for the
offering.
In addition, the Company has granted the
underwriters a 45-day option to purchase up to an additional
562,500 shares and accompanying warrants to purchase up to 562,500
shares of common stock at the public offering price, less the
underwriting discounts and commissions. The offering is expected to
close on or about June 15, 2021, subject to satisfaction of
customary closing conditions.
The offering is being conducted pursuant to the
Company's registration statement on Form S-1, as amended (File No.
333-255091), previously filed with and subsequently declared
effective by the Securities and Exchange Commission (“SEC”).
A final prospectus relating to the offering will be filed
with the SEC and will be available on the SEC’s website at
http://www.sec.gov. Electronic copies of the final prospectus
relating to this offering, when available, may be obtained from
Kingswood Capital Markets, division of Benchmark Investments, LLC,
590 Madison Avenue, 39th Floor, New York, NY 10022, Attention:
Syndicate Department, or via email
at syndicate@kingswoodcm.com or telephone at (212)
404-7002.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
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
specializes in manufacturing, distribution, sales & marketing
of various beverages across multiple channels. SBEV operates in
both the non-alcoholic and alcoholic beverage segments which they
believe leverages efficiencies and dilutes risk.SBEV believes its
business model is unique as it ONLY develops/accelerates brands it
perceives to have highly visible pre-existing brand awareness or
pure category innovation.
Forward-Looking Statements
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 inability to
close the underwritten public offering in a timely manner and 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. The foregoing list of factors is not exclusive.
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:
Splashbeveragegroup.com info@splashbeveragegroup.com
954-745-5815
SOURCE: Splash Beverage Group, Inc.
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
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