Vending

Splash Beverage Group secures $10M credit line

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August 14, 2023

Splash Beverage Group Inc., a portfolio company of beverage brands, has established a $10 million operating capital credit facility with a European and Singapore based private funding group, according to a press release. The company will use this credit facility along with additional funds raised for operating capital and will withdraw its existing $200 million S-3 registration statement.

The registration statement, initially filed with the Securities and Exchange Commission on Sept. 28, 2021, was intended to provide the company with the flexibility to sell up to $200 million common stock, preferred stock, warrants or units for potential future business opportunities, strategic initiatives and general corporate purposes.

Following the establishment of the new credit facility and funds raised internally the company has determined that the S-3 public shelf offering is no longer necessary.

The new credit facility will immediately provide $10 million in operating capital and matures in five years. The credit facility provides favorable financing at the current Euribor rate plus 1.5% and includes customary covenants for an agreement of this nature.