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NewAge, Inc. (NBEV)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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2.8900+0.2600 (+9.89%)
At close: 4:00PM EST

2.9300 +0.04 (1.38%)
Pre-Market: 5:29AM EST

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  • NewAge Announces $58 Million Private Placement
    GlobeNewswire

    NewAge Announces $58 Million Private Placement

    DENVER, Feb. 16, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based social selling and distribution company with a global network of independent brand partners and distributors today announced that it has entered into a definitive agreement with investors to purchase 14.6 million shares of common stock in a private placement priced at-the-market under Nasdaq rules. The purchase price for the shares of common stock is $3.96. The gross proceeds from the private placement are expected to be $58 million before deducting placement agent fees and other estimated offering expenses. As part of the private placement, investors will receive warrants to purchase up to 7.3 million additional shares at $5.00 per share, a 28% premium to the most recent closing price. The private placement is expected to close on or about February 18, 2021, subject to the satisfaction of customary closing conditions. The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable under state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. As part of the transaction, the Company has agreed to file a resale registration statement on Form S-3 with the Securities and Exchange Commission within 30 days of the closing to register the resale of the shares of common stock issued in the private placement. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Roth Capital Partners is acting as the exclusive placement agent for the offering. About NewAge, Inc. NewAge is a purpose-driven firm intending to become the world’s leading social selling and distribution company. Colorado-based NewAge commercializes a portfolio of organic and healthy products worldwide through primarily a direct route-to-market system. The company competes in three major category platforms including health and wellness, healthy appearance, and nutritional performance, and leads a network of more than 400,000 exclusive independent distributors and brand partners around the world. The Company operates the websites NewAge.com, Noninewage.com, Ariix.com and a number of other individual brand websites. Safe Harbor Disclosure This press release contains forward-looking statements that are made under the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's expectations regarding future results of operations, economic performance, financial condition, the acquisition of ARIIX, statements about the benefit of the ARIIX transaction, the combined financial expectations of NewAge and ARIIX, and the extent and duration of COVID-19 on its business. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable, but there is no assurance they will prove to be accurate. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. NewAge competes in a rapidly growing and transforming industry, and risk factors, including those disclosed in the Company's filings with the Securities and Exchange Commission, might affect the Company's operations. Unless required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements. For investor inquiries about NewAge please contact: NewAge Investor Relations:Riley TimmerVice President, Investor RelationsTel: 1-801-870-8685Riley_Timmer@NewAge.com Investor Relations Counsel:John Mills / Reed AndersonICR – Strategic Communications and AdvisoryTel: 1-646-277-1254/1-646-277-1260NewAge@icrinc.com NewAge Inc:Brent D. WillisChief Executive OfficerTel: 1-303-566-3031Brent_Willis@NewAge.com

  • NewAge Announces Preliminary Q4 2020 Results
    GlobeNewswire

    NewAge Announces Preliminary Q4 2020 Results

    - $90MM range of expected revenue reflective of accelerated growth- Merger with ARIIX successfully on track, financial benefits accruing DENVER, Feb. 16, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based healthy products company intending to become the world’s leading social selling and distribution company today announced that it anticipates net revenue for the fourth quarter of 2020 to be in the $90 million dollar range, Gross Margin in the 64% – 68% range, with EBITDA to be around breakeven. The company will report its fourth quarter and full-year results on March 16, 2021. Brent Willis, Chief Executive Officer of NewAge, commented, “We are pleased that our anticipated fourth quarter revenue will be higher than we anticipated and significantly above expectations. We are seeing strong growth coming from our European and Americas regions and are also seeing renewed growth in Japan, our largest market. Our global sales force of independent brand partners continue to adapt to the new way of operating an e-commerce business from home, the new multifunctional hub. The convergence between NewAge and ARIIX is also beginning to deliver results and we are on track to achieve our committed cost synergies and deliver positive EBITDA in 2021 as our growth and cost savings translate to positive net income and free cash flow.” On November 16, 2020, NewAge closed its merger transaction with ARIIX and began fully integrating and converging the two organizations. Accordingly, fourth quarter results for NewAge will include operating results for ARIIX from the November 16 close date forward. NewAge, Inc will release its full fourth quarter and full year results before the market opens on Tuesday, March 16. The management team will host a conference call with investors at 8:30am ET that same morning. The webcast of the conference call will be broadcast live and available on the investors section of our website at https://newagebev.com/en-us/our-story/investors. About NewAge, Inc. NewAge is a purpose-driven firm intending to become the world’s leading social selling and distribution company. Colorado-based NewAge commercializes a portfolio of organic and healthy products worldwide through primarily a direct route-to-market system. The company competes in three major category platforms including health and wellness, healthy appearance, and nutritional performance and leads a network of more than 400,000 exclusive independent distributors and brand partners around the world. The Company operates the websites NewAge.com, Noninewage.com, Ariix.com, Mavie.com, Thelimucompany.com, Zennoa.com and a number of other individual brand websites. Safe Harbor Disclosure This press release contains forward-looking statements that are made under the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's expectations regarding future results of operations, economic performance, financial condition, the acquisition of ARIIX, statements about the benefit of the ARIIX transaction, the combined financial expectations of NewAge and ARIIX and the extent and duration of COVID-19 on its business. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable, but there is no assurance they will prove to be accurate. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties and actual results may differ materially. NewAge competes in a rapidly growing and transforming industry and risk factors, including those disclosed in the Company's filings with the Securities and Exchange Commission, might affect the Company's operations. Unless required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements. For investor inquiries about NewAge please contact: NewAge Investor Relations:Riley TimmerVice President, Investor RelationsTel: 1-801-870-8685Riley_Timmer@NewAge.com Investor Relations Counsel:John Mills / Reed AndersonICR – Strategic Communications and AdvisoryTel: 1-646-277-1254/1-646-277-1260NewAge@icrinc.com NewAge Inc:Brent D. WillisChief Executive OfficerTel: 1-303-566-3031Brent_Willis@NewAge.com

  • This Just In: Analysts Are Boosting Their NewAge, Inc. (NASDAQ:NBEV) Outlook for Next Year
    Simply Wall St.

    This Just In: Analysts Are Boosting Their NewAge, Inc. (NASDAQ:NBEV) Outlook for Next Year

    NewAge, Inc. ( NASDAQ:NBEV ) shareholders will have a reason to smile today, with the analysts making substantial...