FORT LAUDERDALE, Fla., July 14, 2026 (GLOBE NEWSWIRE) -- Splash Beverage Group, Inc. (NYSE American: SBEV) ("Splash," "Splash Beverage" or the "Company") today announced two significant actions designed to strengthen the Company's financial position and advance its previously announced NYSE American compliance plan.
The Company has successfully negotiated settlements with multiple legacy creditors representing approximately $3.3 million of accounts payable and accrued liabilities for aggregate cash consideration of approximately $550,000. As a result, Splash expects to recognize an approximate $2.75 million gain from the extinguishment of indebtedness, subject to final accounting review. The liability settlements announced today are expected to eliminate approximately 84% of the negotiated obligations while requiring only approximately 17% of their face value to satisfy those claims.
In addition, the Company's Board of Directors has approved a 1-for-4 reverse stock split of the Company's issued and outstanding common stock. The details of the reverse stock split are described below.
The reverse stock split is intended to support the Company's continued compliance with NYSE American's minimum share price requirements and forms an important component of the Company's previously announced Exchange-approved compliance plan.
Brady Cobb, Interim Chief Executive Officer, commented: "Today's announcement reflects continued execution against the strategic and financial roadmap we presented to both our shareholders and the NYSE American. In just the past few months, we have secured acceptance of our NYSE compliance plan, strengthened our liquidity through our effective equity line registration, substantially improved our balance sheet through negotiated settlements with legacy creditors, completed our strategic investment in Avicanna, acquired the exclusive worldwide licensing rights to CannEpil®, and continue advancing additional initiatives designed to create long-term shareholder value."
"Negotiating approximately $3.3 million of legacy liabilities down to roughly $550,000 is a meaningful accomplishment for our shareholders. Every unnecessary legacy obligation that we remove strengthens our balance sheet, improves stockholders' equity, and allows us to direct more resources toward executing our long-term strategy. These settlement agreements reflect disciplined capital allocation and our commitment to rebuilding the Company's financial foundation."
Reverse Stock Split Supports Continued NYSE American Listing