SoFi CEO enters prepaid forward contract on 1.5 million shares
Splash Beverage Group’s stock (SBEV) has hit a 52-week low, dropping to a price level of $0.13. This significant downturn reflects a challenging year for the company, with the stock experiencing a steep 1-year change of -74.16%. According to InvestingPro data, the company’s revenue has declined by 70% in the last twelve months, with EBITDA standing at -$12.35M. InvestingPro analysis indicates the stock is currently undervalued relative to its Fair Value. Investors have watched the value of their shares shrink as the beverage company grapples with market pressures and competitive dynamics that have taken a toll on its financial performance. The 52-week low serves as a stark indicator of the hurdles Splash Beverage Group faces as it strives to turn its fortunes around in an increasingly volatile industry landscape. InvestingPro analysis reveals concerning metrics, including a weak current ratio of 0.17 and significant debt burden. Subscribers can access 12 additional ProTips and a comprehensive Pro Research Report for deeper insights into SBEV’s financial health.
In other recent news, Splash Beverage Group has announced significant developments that are catching the attention of investors. The company is set to acquire Western Son Vodka through a stock-for-equity transaction, a move expected to double its trailing twelve-month revenue. This acquisition is subject to definitive agreements, regulatory approval, and shareholder consent. Western Son shareholders will receive restricted shares in Splash Beverage Group along with a 10% cash consideration, while Splash will assume certain outstanding debts of Western Son. Additionally, Splash Beverage Group is undergoing executive changes, with CFO Julius Ivancsits and independent director Dr. John Paglia resigning from their positions. The company has a lead candidate for the CFO role and is leveraging Dr. Paglia’s assistance in finding a new Audit Chair. These executive transitions have been officially reported to the Securities and Exchange Commission. Investors are advised to monitor the company’s filings and announcements for further updates on these developments.
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