FORT LAUDERDALE, Fla. -- (Business Wire)
National Beverage Corp. (NASDAQ:FIZZ) announced today that it closed a
private placement with a Management Group that includes a trust
previously established by its Chairman and Chief Executive Officer, Nick
A. Caporella. National Beverage sold 400,000 shares of Special Series D
Preferred Stock to the Management Group for an aggregate purchase price
of $20 million.
This sale is part of the program of shareholder enhancement that began
with an announcement in November referencing a special dividend. A cash
payment of $2.55 per share was paid on December 27, 2012.
“The pledge to continuously enhance shareholder value is reflected by
the Board’s action today,” stated Nick A. Caporella. “Our balance sheet
strength entitles our shareholders to a class of credit and provides the
Company opportunistic advantages in many ways, certainly one of which is
shareholder comfort and security.”
“Having a Management Group purchase this Special Preferred further
enhances the alliance of management and shareholders. Who better knows
the Company and the industry than those who have been part of National
Beverage for many, many years? Most importantly, the cost and timeliness
of this private placement aided the Company in its desire to have the
January 26, 2013 balance sheet reflect the completion of this
transaction. The Special Committee and the Board were assisted and
advised by Houlihan Lokey Financial Advisors,” concluded Caporella.
National Beverage’s iconic brands are the genuine essence . . . of
America. Our company is highly innovative as a pace-setter in the
changing soft-drink industry, featuring refreshment products that are
geared toward the lifestyle/health-conscious consumer. Shasta® – Faygo®
– Everfresh® and LaCroix® are aligned with Rip It® energy products to
make National Beverage . . . America’s Flavor•Favorite – soft-drink
“Patriotism” – If Only We Could Bottle It!
Fun, Flavor and Vitality . . . the National Beverage Way
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include
fluctuations in costs, changes in consumer preferences and other items
and risk factors described in the Company's Securities and Exchange
Commission filings and the Company disclaims an obligation to update any
such factors or to publicly announce the results of any revisions to any
forward-looking statements contained herein to reflect future events or
developments. The securities referenced in this private placement have
not been registered under the Securities Act of 1933.
National Beverage Corp.
Grace Keene, 877-NBC-FIZZ
Source: National Beverage Corp.
© 2016 Canjex Publishing Ltd. All rights reserved.