8-K
SPLASH BEVERAGE GROUP, INC. (SBEV)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANTTO SECTION 13 OR 15(D) OF THESECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
August 17, 2021
| SPLASH BEVERAGE GROUP, INC. | |
|---|---|
| (Exact Name of Registrant as Specified in Its Charter) | |
| Colorado | |
| (State or Other Jurisdiction of Incorporation) | |
| 000-55114 | 34-1720075 |
| --- | --- |
| (Commission File Number) | (IRS Employer Identification No.) |
| 1314 East Las Olas Blvd, Suite 221<br> Fort Lauderdale, Florida 33316 | |
| --- | --- |
| (Address of Principal Executive Offices) | |
| (954) 745-5815 | |
| (Registrant’s Telephone Number, Including Area Code) | |
| (Former Name or Former Address,<br>if Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant<br>to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12<br>under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant<br>to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant<br>to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of<br>each class | Trading<br>Symbol | Name of<br>each exchange on<br> which registered |
|---|---|---|
| Common Stock, No Par Value | SBEV | NYSE American LLC |
| Warrants to purchase<br>shares of common stock | SBEV-WT | NYSE American<br>LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item2.02 Results of Operations and Financial Condition.
On August 17, 2021 Splash Beverage Group, Inc. (the “Company”) issued a press release announcing certain financial results for the second quarter ended June 30, 2021. A copy of the press release is attached as exhibit 99.1.
The information in this Current Report, including the exhibits hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any registration statement or other document filed by the Company with the Securities and Exchange Commission, whether made before or after the date of this Current Report, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 FinancialStatements and Exhibits
(d) Exhibits.
| Exhibit<br><br>Number | Description |
|---|---|
| 99.1 | Press Release dated August 17, 2021 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: August 17, 2021
| SPLASH BEVERAGE GROUP, INC. |
|---|
| /s/ Dean Huge |
| Dean Huge<br><br>Chief Financial Officer |
Exhibit 99.1
Splash Beverage Group Reports Second Quarter2021 Results
SPLASH BEVERAGEGROUP INC.
Tue, August 17, 2021, 8:00 AM
Robust RevenueGrowth Q-over-Q and Year-over-Year
$SBEV - SplashBeverage Group, Inc.
Splash Beverage Group, Inc. Product Line
$SBEV - SplashBeverage Group, Inc.
Splash Beverage Group, Inc. Q-o-Q Revenue Growth
Splash BeverageGroup, Inc. Q-o-Q Revenue Growth
Fort Lauderdale, Florida, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today announced the filing of its second quarter 2021 Report on Form 10-Q for the three months ended June 30, 2021 with the Securities and Exchange Commission on August 16, 2021.
Highlights from the report include:
| ● | Uplisted to NYSE American & Closed on approximately $15 MillionGross Proceeds Capital Raise |
|---|
In June, Splash Beverage Group uplisted to the NYSE American stock exchange and closed on an underwritten public offering of 3.75 million shares of common stock and warrants to purchase up to 3.75 million shares of common stock at a public offering price of $4.00 per share and accompanying warrant. The warrants which trade on the NYSE American under the symbol “SBEV WS” have an exercise price of $4.60 per share and expire five years from issuance. With gross proceeds of approximately $15 million before deducting underwriting discounts and commissions and other estimated offering expenses, the Company now has funding for the next 12 months of operations, and therefore no longer has a growing concern risk.
| ● | Robust Quarter-over-Quarter Revenue Growth with ~700% Year-Over-Year |
|---|
Revenues for the quarter ended June 30, 2021, were $3,287,760, an increase of $870,059 or 36% over the prior quarter ended March 30, 2021. Q2 2021 revenues increased by 696% or $2,875,031 from $412,729 in Q2 2020.
| ● | >900% Year-Over-Year Revenue Growth in First Six Months |
|---|
Revenues in the first six months of 2021 grew to $5,426,684, an increase of $4,902,132 or 934% over $524,732 in the first six months of 2020.
“We’re seeing market penetration and growth across all of our brands and expect continued robust revenue increases through the end of 2021 and beyond. We reiterate our previous revenue guidance for 2021 of $15.97 million, a four-fold increase over 2020. With a strong balance sheet and our NYSE uplisting, Splash Beverage group achieved significant milestones in the second quarter which serve as a solid base for future growth,” stated Robert Nistico, CEO of Splash.
The full 10-Q Quarterly Report can be found here: https://bit.ly/3xRMJgQ
Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev
About SplashBeverage Group, Inc.
Splash Beverage Group specializes in manufacturing, distribution, sales & marketing of various beverages across multiple channels. SBEV operates in both the non-alcoholic and alcoholic beverage segments which they believe leverages efficiencies and dilutes risk.
SBEV believes its business model is unique as it ONLY develops/accelerates brands it perceives to have highly visible pre-existing brand awareness or pure category innovation.
Forward-LookingStatement
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation inability to enter into a definitive agreement with respect to the proposed transaction or to complete the transactions contemplated by the non-binding term sheet, matters discovered by the parties as they complete their respective due diligence investigation of the other. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.
Contact Information:
Splashbeveragegroup.com
info@splashbeveragegroup.com
954-745-5815
SOURCE: Splash Beverage Group, Inc.
Attachments
| ● | $SBEV - Splash Beverage Group, Inc. |
|---|---|
| ● | $SBEV - Splash Beverage Group, Inc. |