Innovation Beverage Group (NASDAQ: IBG) announced the closing of a registered public offering that generated approximately $6 million in gross proceeds before fees and expenses. The offering consisted of 3,428,569 common units or pre-funded units, each including one ordinary share or pre-funded warrant along with Series A and Series B warrants to purchase additional ordinary shares at an exercise price of $1.75 per share. The company said $2.5 million of the net proceeds will be used to provide a non-interest-bearing loan to Blockfuel to support the exercise of its call right under a December 2025 agreement, with the remaining funds allocated to general corporate purposes and working capital, while Aegis Capital Corp. acted as the exclusive placement agent for the transaction.
To view the full press release, visit https://ibn.fm/UcmQo
About Innovation Beverage Group Limited
Innovation Beverage Group Ltd is a developer, manufacturer, marketer, exporter, and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands for which it owns exclusive manufacturing rights. Focused on premium and super premium brands and market categories where it can disrupt age old brands, IBG’s brands include Australian Bitters, BITTERTALES, Drummerboy Spirits, Twisted Shaker, and more. IBG’s most successful brand to date is Australian Bitters, which disrupted a 200-year-old market leader, giving the Company a market dominating position in several territories including a partnership in Australia with Coca-Cola Europacific Partners. Established in 2018, IBG’s headquarters, distillery, innovation, and manufacturing facility are located in Sydney, Australia with a U.S. sales office in California.
For more information visit: https://www.innovationbev.com/
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