Splash Beverage Group, an online retailer with a portfolio of branded beverages, raised $15 million by offering 3.8 million shares at $4. The company also offered 3.8 million warrants, exercisable at $4.60 (115% of the IPO price). Because the offering contained warrants, Splash Beverage Group will be excluded from Renaissance Capital's stats.
Splash manufactures, through third party facilities, and distributes several brands of beverages, including both non-alcoholic and spirits. The company produces, distributes, and markets two beverages brands: TapouT Performance, a hydration and recovery isotonic sport drink, and SALT Naturally Flavored Tequila, a 100% agave 80 proof line of flavored tequilas. It also offers seven varietals of wine through its acquisition of Copa di Vino.
Splash Beverage Group plans to list on the NYSE American under the symbol SBEV. EF Hutton acted as sole bookrunner on the deal.
