Splash Beverage Group (NYSE American: SBEV), a portfolio company of leading beverage brands, today announced that the first tranche of a previously announced private placement has been finalized and the company is in the process of onboarding cash. The company has received approximately half of the just over $4 million from the first tranche and expects the balance in the next couple of days. Additionally, documents for the second tranche of $4 million have been distributed and approximately $3 million have been executed. Given these commitments, Splash Beverage expects to complete the second tranche in short order. The private placement is intended to raise operating capital. The announcement also noted that the $2.4 million financing from 2023 has been retired and will no longer apply any downward pressure on the stock.
To view the full press release, visit https://ibn.fm/C9NYs
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 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 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
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