Splash Beverage Group Inc. Announces Closing of $15.0 Million Public Offering and Uplisting to NYSE American
June 15 2021 - 4:15PM
Splash Beverage Group, Inc. (NYSE American: SBEV) (the “Company”)
(https://www.SplashBeverageGroup.com), a portfolio company of
leading beverage brands, today announced the closing of an
underwritten public offering of 3,750,000 shares of common stock
and warrants to purchase up to 3,750,000 shares of common stock at
a public offering price of $4.00 per share and accompanying
warrant. Each warrant is exercisable at a price of $4.60 per share
and will expire five years from issuance. In addition, the Company
granted the underwriters a 45-day option to purchase up to an
additional 562,500 shares of common stock and warrants to purchase
up to 562,500 shares of common stock at the public offering price
less the underwriting discounts and commissions. The common stock
and warrants separated upon the closing of the offering and were
issued separately.
The common stock and warrants began trading on
the NYSE American on June 11, 2021, under the symbols “SBEV” and
“SBEV WS,” respectively. The Company received gross proceeds
of approximately $15.0 million, before deducting underwriting
discounts and commissions and other estimated offering
expenses.
EF Hutton, division of Benchmark Investments,
LLC, acted as sole book-running manager for the offering.
The Securities and Exchange Commission (“SEC”)
declared effective a registration statement on Form S-1 relating to
the securities on June 10, 2021. A final prospectus relating to the
offering was filed with the SEC and is available on the SEC’s
website at http://www.sec.gov. Electronic copies of the final
prospectus relating to the offering may also be obtained from EF
Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue,
39th Floor, New York, NY 10022, Attention: Syndicate Department, or
via email at syndicate@efhuttongroup.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, 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:
Splashbeveragegroup.com info@splashbeveragegroup.com
954-745-5815
SOURCE: Splash Beverage Group, Inc.
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