Business
Splash Beverage Group Welcomes New CFO, New Director and Discusses Stock Split
Splash Beverage Group Welcomes New CFO, New Director and Discusses Stock
About this update from Splash Beverage Group, Inc. (nv)
[{"type":"text","content":"FORT LAUDERDALE, FL - March 21, 2025 (NEWMEDIAWIRE) - Splash Beverage Group, Inc. (NYSE American: SBEV) (\"Splash\" or \"the Company\"), a portfolio company of leading beverage brands, today announced a reverse stock split of 40 to 1 and wishes to discuss the following topics with shareholders: Reverse Stock Split New CFO New Director Funding Concerns Acquisitions Path Forward The reverse stock split was a mandate from NYSE as the share price dipped below the minimum of .10 cents on Friday. As you know, the company has been battling downward pressure for some time. Market order(s) to sell on Friday were simply too great and trading was halted at .07 cents, below the NYSE minimum. The Company worked with its legal counsel and the NYSE to quickly act and effect the reverse stock split which the Company believes will begin trading at $2.80 as soon as the exchange resumes trading. The Company is confident that the reverse split will address its bid price deficiency. The Company would like to welcome William (Bill) Devereux as its new CFO. Bill comes to us with a wealth of experience in capital markets and financial acumen. Mr. Devereux is a strategic CFO with 20+ years of experience in corporate finance, investment management, and investor relations. He has led multi-million-dollar growth initiatives, secured institutional funding, and optimized financial operations across high-growth consumer and technology sectors. Mr. Devereux commented, \"Im pleased to join Splash Beverage Group at such a pivotal moment in its journey. With a talented team and an exciting transformation ahead, I look forward to supporting the companys growth and helping to enhance value for our shareholders.\" The Company also welcomes Tom Fore as its new director. Given his extensive experience working with public companies and fund raising, Tom comes to us at a perfect time and the Company is honored to have him join the Board. See bio: Thomas Butler Fore is a Boston-based entrepreneur with more than 30 years of experience in structured finance. Thomas has developed an expertise in M&A, corporate strategy, corporate finance, reorganizations, and dispute resolution. He has served as a key strategist for numerous challenged microcap and small cap public companies, as well as numerous private company capitalizations and reorganizations. Thomas also has manage...