Splash Beverage slides on stock offering

Endovia Health Sciences

15/02/2022 12:47

** Splash Beverage  SBEV.A  shares down 22.5% at $3.90
premarket after co prices follow-on
    ** Co late Mon offered 2 mln shares at $4, ~20% discount to
stock's last sale, for $8 mln raise  urn:newsml:reuters.com:*:nGNX8Dys6g
    ** EF Hutton, division of Benchmark Investments, sole
bookrunner for offering
    ** SBEV has ~32.62 mln shares outstanding and ~23.8 mln of
public float, per Refinitiv data
    ** Last month, SBEV received nod to sell its Pulpoloco
Sangria line in Ralph's Grocery stores  urn:newsml:reuters.com:*:nGNX2F7mvK, and
received authorization to sell its TapouT performance drink in
Florida Walmart  WMT.N  stores  urn:newsml:reuters.com:*:nGNX7rLfDx
    ** Stock has surged ~330% YTD
    ** Last Jun, SBEV raised $15 mln after selling 3.8 mln
shares (and 3.8 mln warrants) in public offering at $4 and
uplisting to NYSE American  urn:newsml:reuters.com:*:nASA02AIP

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))