Splash Beverage (NYSE American: SBEV), a portfolio company of leading beverage brands, has granted the underwriters of its previously announced public offering a 45-day option to purchase an additional 300,000 shares of common stock. The original offering was for 2 million shares for estimated gross proceeds of $8 million. The additional shares will cover overallotments, if any. The company anticipates the public offering to close on or about Feb. 17, 2022. In addition, the company has entered a distribution deal with Gulf Distributing of Alabama. The agreement calls for Gulf to distribute SBEV’s SALT Naturally Flavored Tequila throughout the state as well as to participating military bases. A division of Gulf Distributing Holdings LLD, Gulf Distributing of Alabama manages and operates seven individual beverage distributors that encompass central and southern Alabama as well as markets in Mississippi, representing more than 100 suppliers and services more than 10,000 retail accounts in its assigned territories. “We have a long-standing relationship with Gulf Distribution, and we are extremely excited to be working with their team,” said Splash Beverage CEO Robert Nistico in the press release. “Our brand, SALT Naturally Flavored Tequila, joins their blue-chip portfolio of beverages, including Coors, Heineken, Corona, Red Bull, Essentia Water, 7-Up and Snapple, and TapouT Performance Beverage in Alabama.”
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About Splash Beverage Group Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and nonalcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. 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, please visit www.SplashBeverageGroup.com.
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