SoFi CEO enters prepaid forward contract on 1.5 million shares
In a market that has seen its fair share of volatility, Splash Beverage Group’s stock (SBEV) has managed to hit a 52-week high, reaching a price level of $2.8. According to InvestingPro data, the company’s financial health score stands at a concerning 1.2 (WEAK), with revenue declining by 70% in the last twelve months. This peak comes amidst a challenging year for the beverage company, which has experienced a significant downturn over the past year, with its stock value witnessing a steep decline of -84.78%. With a market cap of just $4.32M and negative EBITDA of -$12.35M, investors are closely monitoring SBEV’s performance to see if this high point signals a turnaround for the company or if it’s a temporary spike in an otherwise downward trend. InvestingPro analysis reveals 15+ additional key insights about SBEV’s financial position and future prospects.
In other recent news, Splash Beverage Group announced significant executive changes, with CFO Julius Ivancsits set to resign effective February 18, 2025, and Dr. John Paglia planning to step down as an independent director by March 7, 2025. The company is actively seeking a replacement for Ivancsits and has a lead candidate undergoing a background check. These changes are not due to any disagreements with the company, and Splash Beverage Group is ensuring continuity in governance and financial management during this transition.
Additionally, Splash Beverage Group has signed an updated Letter of Intent to acquire Western Son Vodka, a craft spirits brand. The acquisition is expected to double Splash’s trailing twelve-month revenue, subject to definitive agreements, regulatory approval, and shareholder consent. Under the proposed terms, Western Son shareholders will receive restricted shares in Splash and approximately 10% in cash consideration, with Splash taking on certain debts of Western Son. The merger aims to align the interests of both entities and enhance Splash’s revenue and operational efficiencies. CEO Robert Nistico expressed enthusiasm for the acquisition, highlighting its potential to accelerate Splash’s path to profitability.
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