Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE ISSUED AUGUST 21, 2018 - NewAge, Inc. | nbev_ex991.htm |
| EX-5.1 - OPINION OF SICHENZIA ROSS FERENCE KESNER LLP - NewAge, Inc. | nbex_ex51.htm |
| EX-1.1 - UNDERWRITING AGREEMENT - NewAge, Inc. | nbev_ex11.htm |
| 8-K - CURRENT REPORT - NewAge, Inc. | nbev_8-k.htm |
Exhibit 99.2
New Age Beverages Corporation Prices
Underwritten Public Offering Of $10.5 Million Of Common
Stock
DENVER, CO / ACCESSWIRE / August 22, 2018 / NEW AGE BEVERAGES
CORPORATION (NASDAQ: NBEV), the Colorado-based organic and
natural healthy functional beverage company intending to become the
world's leading healthy beverage company, today announced the
pricing of an underwritten public offering of 8,200,000 shares of
its common stock at a price of $1.28 per share to fund organic
growth and meet the demand of its portfolio in expanded
distribution.
As part
of the offering, the New Age officers, directors, and insiders
purchased approximately $2.5 million of common stock in the
offering on the same terms as the other investors in the offering.
New Age intends to use the proceeds from this offering for
purchasing inventory for newly gained distribution and for other
general working capital purposes.
New Age
has granted to the underwriters a 30-day option to acquire an
additional 1,000,000 shares to cover overallotments in connection
with the offering. After the underwriting discount and estimated
offering expenses payable by the company, the company expects to
receive gross proceeds of approximately $9.5 million, assuming no
exercise of the overallotment option. The offering is expected to
close on August 24, 2018, subject to customary closing
conditions.
Roth
Capital Partners is acting as the sole book-running manager for the
offering. Northland Capital Markets is acting as the lead manager
for the proposed offering. Northland Capital Markets is the trade
name for certain capital markets and investment banking services of
Northland Securities, Inc., member of FINRA/SIPC.
A shelf
registration statement relating to the shares of common stock to be
issued in the offering was filed with the Securities and Exchange
Commission (the "SEC") and was declared effective on October 16,
2017. Copies of the prospectus supplement and accompanying
prospectus, when available, relating to this offering may be
obtained from Roth Capital Partners, 888 San Clemente Drive, Suite
400, Newport Beach, CA 92660, (800) 678-9147, by contacting
Northland Capital Markets, 150 South Fifth Street, Suite 3300,
Minneapolis, MN 55402, Attention: Heidi Fletcher, by calling toll
free at 800-851-2920, by email at hfletcher@northlandcapitalmarkets.com
or by accessing the SEC's website, www.sec.gov.
This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
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About New Age Beverages
Corporation (NASDAQ: NBEV)
New Age
Beverages Corporation is a Colorado-based healthy functional
beverage company that was created in 2016 and 2017 with the
combination of Búcha Live Kombucha®, XingTea®,
Coco-Libre®, and Marley®, to create a one-stop-shop
solution for retailers and distributors providing healthier
beverages in the disruptive growth segments of the $1
trillion-dollar non-alcoholic beverage industry. In that period,
New Age has become the 56th largest beverage company, one of the
largest healthy beverage companies, and the fastest growing in the
world over the past two years. New Age competes Ready to Drink
(RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks,
Coconut Waters, Functional Waters, and Rehydration Beverages with
the brands Búcha Live Kombucha, Xing, Marley, Coco-Libre,
Aspen Pure, and 'nhanced. The Company's brands are sold across all
50 states within the US and in more than 50 countries
internationally across all channels via direct and store door
distribution systems. The company operates the websites
www.newagebev.com,
www.newagehealth.us,
www.mybucha.com,
www.xingtea.com,
www.aspenpure.com,
www.drinkmarley.com,
www.cocolibre.com,
and https://shop.newagebev.com.
New Age
has exclusively partnered with the world's 5th largest water
charity, WATERisLIFE, to end the world water crisis with the most
innovative technologies available. Donate at WATERisLIFE.com to
help us #EnditToday.
Safe Harbor Disclosure
This
press release contains forward-looking statements that are made
pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are any statement reflecting
management's current expectations regarding future results of
operations, economic performance, financial condition and
achievements of the Company including statements regarding New Age
Beverage's expectation to see continued growth. The forward-looking
statements are based on the assumption that operating performance
and results will continue in line with historical results.
Management believes these assumptions to be reasonable but there is
no assurance that they will prove to be accurate. Forward-looking
statements, specifically those concerning future performance are
subject to certain risks and uncertainties, and actual results may
differ materially. New Age Beverages competes in a rapidly growing
and transforming industry, and other factors disclosed in the
Company's filings with the Securities and Exchange Commission might
affect the Company's operations. Unless required by applicable law,
NBEV undertakes no obligation to update or revise any
forward-looking statements.
For
investor inquiries about New Age
Beverages Corporation please contact:
Cody
Slach, Liolios Group,
Inc.
Investor
Relations Counsel
Tel
949-574-3860
NBEV@Liolios.com
New Age Beverages Corporation
John
Price, CFO
303-289-8655
JPrice@NewAgeBev.com
SOURCE: New Age Beverages Corporation
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