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FORT LAUDERDALE, FL / ACCESSWIRE / August 22, 2024 / Splash Beverage Group, Inc. (NYSE American:SBEV) ("Splash" or the "Company"), a portfolio company of leading beverage brands, announced that it has begun closing on a private placement for operating capital.
Previously announced in the company's corporate update on May 15th, 2024, the Company was entering into a financing agreement with a wealth management firm in upstate NY. That agreement was finalized and the capital raise is in process. The first tranche has been finalized and the company is in the process of onboarding cash, a Form 8K to follow later today or tomorrow.
The first tranche is just over $4M and approximately half the cash has been received. The balance is expected in the next couple of days.
Documents for the second tranche of $4M have been distributed and approximately $3m have been executed. With these commitments in hand, the Company expects to complete the second tranche in short order.
Additionally, the $2.4M financing from last year has been retired and will no longer apply any downward pressure on the stock. The Company believes this is an extremely important point and will answer questions on the conference call later today.
Today's Conference Call Details:
Date: Thursday, August 22, 2024
Time: 4:00 pm. ET
Call: 888-506-0062 (US Toll Free) or 973-528-0011 (International)
Participant Access Code: 648719
Webcast: A live webcast will be available and can be accessed from the Investors section of the Company's website or by clicking here
All interested parties are invited to participate. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast.
For those unable to join the live webcast, a replay will be available until Friday, August 22, 2025, at 1-877-481-4010 (US) or 1-919-882-2331, replay pin number 51153. Additionally, to access the archived webcast, please visit the Investors section of the Company's website or click here
Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev
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 wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and 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.