Vending

Celsius secures $22M from investors

Logo provided.

August 24, 2020

Celsius Holdings Inc., maker of a leading global fitness drink, Celsius, has received a direct private investment of $22 million from two investors, Boyu Capital and an unnamed institutional investor, according to a press release. The transaction is expected to close on or about Aug. 25, 2020. The company also announced the expansion into the Speedway convenience store chain.

In the placement transaction, the company will sell 1,437,909 shares of common stock at a price of $15.30 per share. In addition, various affiliates of Celsius, including six directors and CD Financial LLC, an entity owned by Carl DeSantis, the company's largest shareholder, will sell an aggregate of 1,307,189 shares of common stock at $15.30 per share.

The initial Speedway rollout will include two SKUs across 2,700 stores starting in the beginning of the fourth quarter 2020. Over 90% of participating Speedway stores will be serviced by direct store delivery distribution partners.