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Splash Beverage Group Announces Successful First Tranche of Capital Raise for Strategic Acquisition
Splash Beverage Group (NYSE American:SBEV) has announced progress in its capital raising efforts to expand market presence and support working capital. The company has secured $7.6 million through private placement of convertible notes and equity in a pending acquisition, updating its previous announcement from August 22, 2024. This funding will provide essential working capital for legacy businesses and enable the pursuit of a complementary acquisition.
CEO Robert Nistico stated that the company is under a Letter of Intent (LOI) with a complementary beverage company, which aligns with their vision. The acquisition target remains confidential but is unrelated to the previously announced Western Son acquisition. Nistico emphasized that this capital raise demonstrates investor confidence in the company's growth strategy and long-term potential.
CEO Robert Nistico stated that the company is under a Letter of Intent (LOI) with a complementary beverage company, which aligns with their vision. The acquisition target remains confidential but is unrelated to the previously announced Western Son acquisition. Nistico emphasized that this capital raise demonstrates investor confidence in the company's growth strategy and long-term potential.
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