Splash Beverage Stock Plummets After Pricing Equity Offering At Discount

• Splash Beverage Group Inc (NYSE:SBEV) has priced its public offering of two million shares at an offering price of $4.00 per share.
• The offer price represents a 20% discount on the stock’s closing price on February 14.
• The company intends to receive gross proceeds of about $8 million, prior to deducting underwriting discounts, commissions, and other offering expenses.
• Splash Beverage has granted the underwriters a 45-day option to purchase up to an additional 0.3 million shares of common stock at the public offering price.
• The offering is expected to close on or about February 17, 2022, and EF Hutton, a division of Benchmark Investments LLC, is acting as the sole book-running manager for the offering.
• Price Action: SBEV shares are trading lower by 18.5% at $4.09 in premarket on the last check Tuesday.