The Splash Beverage Group Inc (OTCQB:SBEV) stock was on the move on Thursday and went up by as much 13% after the company made an announcement with regards to the pricing of the underwritten public offering.
The company, which owns a group of beverage brands, announced that it is going to offer 3.75 million shares of the Splash Beverage common stock and share warrants to acquire a maximum of 3.75 million shares at $4 a share.
The company aims to raise as much as $15 million from this offering before the deduction of commissions and other expenses. One solitary warrant can be swapped for one share of the Splash Beverage common stock. The exercise price for the same has been set at $4.60 a share and it can be exercised at any point in the next five years. The warrants and the common stock are all set to start trading on the New York Stock Exchange from today.