Splash Beverage Group, Inc. (NYSE American:SBEV), a portfolio company specializing in alcoholic and non-alcoholic beverage brands, has announced the initial closing on a $4 million tranche as part of its private placement for operating capital. This follows an earlier corporate update from May 2024, detailing a financing arrangement with an upstate New York wealth management firm. With half of the first tranche already received and the remainder expected shortly, the company is distributing documents for a second $4 million tranche. Approximately $3 million of the second tranche has already been executed. Additionally, Splash Beverage has retired a $2.4 million financing from the previous year, which had applied downward pressure on its stock. A conference call discussing these updates was scheduled for August 22, 2024. Splash Beverage Group continues its strategy of rapidly developing and acquiring high-visibility beverage brands.
Beverage Industry, Private Equity & Venture Capital,United States
https://www.newswire.com/news/splash-beverage-group-announces-its-initial-closing-on-the-first-22408413