Splash Beverage Group (NYSE American: SBEV), a portfolio company of leading beverage brands, has closed on the second tranche of funding from its convertible promissory note announced last October. According to the update, the aggregate gross proceeds from the second tranche are approximately $1.85 million prior to deducting underwriting discounts, commissions and other offering expenses. “This interim capital raise helps us rebuild and increase our inventory levels allowing us to service our valued customers and support significant gains in distribution and chain retail authorizations for all our brands,” said Robert Nistico, Splash Beverage Group’s chairman and CEO. “We have announced numerous distribution and retail chain agreements recently, with more to come and it is critical to have sufficient inventory to support this expansion. Our view was the importance of timeliness combined with our experience and familiarity with this institution made this the right financing for this moment in time. With the CASH warrants priced at more than double, nearly triple the current share price, it’s a clear indication that this institution sees SBEV as undervalued.”
To view the full press release, visit https://ibn.fm/YMRnC
About Splash Beverage Group Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wines by the glass, SALT flavored tequilas, Pulpoloco sangrías, and 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 led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. For more information about the company, visit www.SplashBeverageGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to SBEV are available in the company’s newsroom at https://ibn.fm/SBEV
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com
InvestorWire is powered by IBN
