DENVER, CO / ACCESSWIRE / February 13, 2017 / NEW AGE BEVERAGES CORP. (NBEV), the Colorado-based Company that markets the brands XingTea®, Aspen Pure® Rocky Mountain Water, Búcha® Live Kombucha, Marley One Drop® Coffee, and Marley Mellow Mood® Relaxation Drinks, today announced the pricing of an underwritten public offering of 4,285,714 shares of its common stock at a price to the public of $3.50 per share. The gross proceeds to New Age Beverages Corp. from this offering are expected to be approximately $15,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. New Age Beverages Corp. has granted the underwriters a 45-day option to purchase up to an additional 642,857 shares of common stock to cover over-allotments, if any. The offering is expected to close on February 17, 2017, subject to customary closing conditions. Shares of our Common Stock will begin trading on February 14, 2017 under the symbol "NBEV" on the Nasdaq Capital Market.
Aegis Capital Corp. and Maxim Group LLC are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on February 13, 2017.
The offering will be made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained, when available, by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About New Age Beverages Corporation (NBEV)
New Age Beverages Corporation is a Colorado-based, healthy functional beverage company originally founded in 2003 and re-created via the combination of XingTea®, Aspen Pure® Rocky Mountain Water, Búcha® Live Kombucha, and New Age Beverages in June 2016. In October 2016, the Company signed a management agreement to take over the Marley One Drop® RTD Coffee, and Marley Mellow Mood™ Relaxation Drinks brands. The Company trades under the symbol NBEV on the Nasdaq Capital Market. The Company competes in the fast growing healthy functional beverage segments including Ready to Drink (RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks and Functional Waters. The Company's brands are sold across all 50 states within the US and in more than 10 countries internationally across all channels via direct and store door distribution systems. The company operates the websites www.newagebev.us, www.mybucha.com, www.xingtea.com, www.aspenpure.com, and www.drinkmarley.com.