Splash Beverage Group Announces Reverse Stock Split and Strategic Moves to Address Market Challenges
TL;DR
Splash Beverage Group, Inc. announces a 40 to 1 reverse stock split, increasing share price potential.
The reverse stock split aims to address bid price deficiency, with trading expected to resume at $2.80.
By adding experienced professionals and securing funding, Splash Beverage Group strives to enhance shareholder value and achieve long-term growth.
Splash Beverage Group's diverse portfolio and strategic acquisitions pave the way for exciting transformations and enhanced market presence.
Found this article helpful?
Share it with your network and spread the knowledge!
Splash Beverage Group, Inc. (NYSE American: SBEV) has announced a significant reverse stock split of 40 to 1, a move mandated by the NYSE after the company's share price fell below the minimum threshold of .10 cents. This strategic decision, aimed at addressing the bid price deficiency, is expected to see the stock begin trading at $2.80 once the exchange resumes. The company views this as a necessary step to stabilize its market position and reduce the number of shares outstanding, which could facilitate future acquisitions and potentially benefit the share price.
In tandem with the reverse stock split, Splash Beverage Group has welcomed William (Bill) Devereux as its new Chief Financial Officer. Devereux brings over two decades of experience in corporate finance and investor relations, with a proven track record in leading growth initiatives and securing institutional funding. His appointment is seen as a pivotal addition to the team, especially during this transformative period for the company.
The company also announced the addition of Tom Fore to its board of directors. Fore's extensive background in structured finance, M&A, and corporate strategy, particularly with microcap and small cap public companies, positions him as a valuable asset for Splash Beverage Group as it navigates its current challenges and seeks to capitalize on future opportunities.
Addressing funding concerns, the company has engaged an advisory group to explore financing opportunities that would alleviate liquidity challenges and support potential acquisitions. Splash Beverage Group remains focused on its acquisition strategy, with two previously communicated targets still in play, underscoring its commitment to long-term value creation.
The path forward for Splash Beverage Group involves leveraging the strength of its e-commerce and branded beverage divisions, both of which show promise for rapid rebound and growth. The upcoming launch of Chispo Tequila, which has received positive feedback, is expected to further bolster the company's branded revenue base. For more information on Splash Beverage Group and its portfolio, visit https://www.SplashBeverageGroup.com.
Curated from NewMediaWire
