STOCK TITAN

[D] Splash Beverage Group, Inc. SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
D
Rhea-AI Filing Summary

Splash Beverage Group, Inc. (SBEV) filed a new Form D notice indicating completion of most of a private financing conducted under Reg D Rule 506(b). The company has offered up to $36.25 million in a mix of equity, preferred shares, and warrants associated with a business-combination transaction.

  • Capital raised: $33.321 million (92% of the stated maximum) has already been sold to 30 investors; $2.929 million remains available.
  • Securities structure: • up to 1,250 Series A-1 preferred shares and related warrants (≈ $1.25 M) • up to 150,000 Series B preferred shares in exchange for ≤ $15 M of debt • 20,000 Series C convertible preferred shares issued for assets acquired in a business-combination transaction.
    All securities include options, warrants, or conversion rights that could create additional equity.
  • Business purpose: The filing confirms the Series C issuance was payment for “certain assets” of a third-party seller, signalling an acquisition-related expansion tactic.
  • Cost efficiency: No sales commissions or finder’s fees were paid; only $73k (estimated) of proceeds are earmarked for payments to executives/directors.
  • Offering profile: New notice, first sale on 25 Jun 2025; expected to close within one year. The issuer declined to disclose revenue range and used Rule 506(b), limiting solicitation to accredited investors and permitting resale restrictions.

Investor takeaway: The raise materially boosts SBEV’s liquidity for debt reduction and asset acquisition with minimal transaction costs. However, the heavy reliance on preferred shares, warrants, and convertible securities may lead to future dilution and signals ongoing capital-intensive growth needs.

Splash Beverage Group, Inc. (SBEV) ha depositato una nuova comunicazione Form D che indica il completamento della maggior parte di un finanziamento privato effettuato ai sensi della Regola D, Regola 506(b). L'azienda ha offerto fino a 36,25 milioni di dollari in una combinazione di azioni ordinarie, azioni privilegiate e warrant legati a una transazione di fusione aziendale.

  • Capitale raccolto: 33,321 milioni di dollari (il 92% del massimo previsto) sono già stati venduti a 30 investitori; restano disponibili 2,929 milioni di dollari.
  • Struttura dei titoli: • fino a 1.250 azioni privilegiate Serie A-1 e relativi warrant (circa 1,25 milioni di dollari) • fino a 150.000 azioni privilegiate Serie B in cambio di un debito fino a 15 milioni di dollari • 20.000 azioni privilegiate convertibili Serie C emesse per beni acquisiti in una transazione di fusione aziendale.
    Tutti i titoli includono opzioni, warrant o diritti di conversione che potrebbero generare capitale aggiuntivo.
  • Finalità aziendale: Il deposito conferma che l'emissione della Serie C è stata effettuata come pagamento per “certi beni” di un venditore terzo, segnalando una strategia di espansione legata all’acquisizione.
  • Efficienza dei costi: Non sono state pagate commissioni di vendita o fees a intermediari; solo 73.000 dollari (stimati) dei proventi sono destinati a pagamenti a dirigenti e membri del consiglio.
  • Profilo dell’offerta: Nuova comunicazione, prima vendita il 25 giugno 2025; prevista chiusura entro un anno. L’emittente ha scelto di non divulgare la fascia di fatturato e ha utilizzato la Regola 506(b), limitando la sollecitazione agli investitori accreditati e imponendo restrizioni alla rivendita.

Considerazioni per gli investitori: Il finanziamento aumenta significativamente la liquidità di SBEV per la riduzione del debito e l’acquisizione di asset con costi di transazione contenuti. Tuttavia, l’ampio utilizzo di azioni privilegiate, warrant e titoli convertibili potrebbe causare una diluizione futura e segnala la necessità continua di crescita che richiede capitali rilevanti.

Splash Beverage Group, Inc. (SBEV) presentó un nuevo aviso Form D que indica la finalización de la mayor parte de una financiación privada realizada bajo la Regla D, Regla 506(b). La compañía ha ofrecido hasta 36,25 millones de dólares en una combinación de acciones ordinarias, acciones preferentes y warrants relacionados con una transacción de combinación empresarial.

  • Capital recaudado: 33,321 millones de dólares (el 92% del máximo declarado) ya han sido vendidos a 30 inversores; quedan disponibles 2,929 millones de dólares.
  • Estructura de los valores: • hasta 1.250 acciones preferentes Serie A-1 y warrants relacionados (≈ 1,25 millones de dólares) • hasta 150.000 acciones preferentes Serie B a cambio de una deuda de hasta 15 millones de dólares • 20.000 acciones preferentes convertibles Serie C emitidas por activos adquiridos en una transacción de combinación empresarial.
    Todos los valores incluyen opciones, warrants o derechos de conversión que podrían generar capital adicional.
  • Propósito empresarial: La presentación confirma que la emisión de la Serie C fue un pago por “ciertos activos” de un vendedor externo, señalando una táctica de expansión relacionada con adquisiciones.
  • Eficiencia de costos: No se pagaron comisiones de venta ni honorarios a intermediarios; solo 73,000 dólares (estimados) de los ingresos se destinan a pagos a ejecutivos/directores.
  • Perfil de la oferta: Nuevo aviso, primera venta el 25 de junio de 2025; se espera cierre dentro de un año. El emisor declinó revelar el rango de ingresos y utilizó la Regla 506(b), limitando la solicitud a inversores acreditados y permitiendo restricciones de reventa.

Conclusión para inversores: La recaudación aumenta materialmente la liquidez de SBEV para reducción de deuda y adquisición de activos con costos mínimos de transacción. Sin embargo, la fuerte dependencia de acciones preferentes, warrants y valores convertibles puede llevar a una dilución futura y señala necesidades continuas de crecimiento intensivo en capital.

Splash Beverage Group, Inc. (SBEV)Reg D Rule 506(b)에 따라 진행된 사모 자금 조달의 대부분이 완료되었음을 알리는 새로운 Form D 공시를 제출했습니다. 회사는 비즈니스 결합 거래와 관련된 보통주, 우선주 및 워런트 혼합 형태로 최대 3,625만 달러를 제안했습니다.

  • 모금 자본: 명시된 최대 금액의 92%인 3,332만 1,000달러가 이미 30명의 투자자에게 판매되었으며, 292만 9,000달러가 남아 있습니다.
  • 증권 구조: • 최대 1,250주 A-1 시리즈 우선주 및 관련 워런트 (약 125만 달러) • 최대 150,000주 B 시리즈 우선주, 최대 1,500만 달러의 부채 교환 • 비즈니스 결합 거래에서 취득한 자산에 대해 발행된 20,000주 C 시리즈 전환 우선주
    모든 증권에는 추가 지분을 창출할 수 있는 옵션, 워런트 또는 전환 권리가 포함되어 있습니다.
  • 사업 목적: 제출서류는 C 시리즈 발행이 제3자 판매자의 “특정 자산”에 대한 대금 지급임을 확인하며, 인수 관련 확장 전략임을 시사합니다.
  • 비용 효율성: 판매 수수료나 중개 수수료는 지급되지 않았으며, 수익금 중 약 7만 3,000달러만 경영진 및 이사에게 지급될 예정입니다.
  • 공모 프로필: 신규 공시, 첫 판매는 2025년 6월 25일; 1년 이내 종료 예정. 발행사는 매출 범위를 공개하지 않았으며, Rule 506(b)를 사용해 공모를 인증된 투자자로 제한하고 재판매 제한을 허용했습니다.

투자자 시사점: 이번 자금 조달은 거래 비용을 최소화하면서 부채 상환 및 자산 인수를 위한 SBEV의 유동성을 크게 강화합니다. 그러나 우선주, 워런트 및 전환 증권에 대한 높은 의존도는 향후 희석 가능성을 내포하며 지속적인 자본 집약적 성장 필요성을 나타냅니다.

Splash Beverage Group, Inc. (SBEV) a déposé un nouvel avis Formulaire D indiquant l’achèvement de la majeure partie d’un financement privé réalisé conformément à la règle D, règle 506(b). La société a proposé jusqu’à 36,25 millions de dollars dans un mélange d’actions ordinaires, d’actions privilégiées et de bons de souscription liés à une opération de fusion-acquisition.

  • Capital levé : 33,321 millions de dollars (92 % du maximum indiqué) ont déjà été vendus à 30 investisseurs ; 2,929 millions de dollars restent disponibles.
  • Structure des titres : • jusqu’à 1 250 actions privilégiées Série A-1 et bons de souscription associés (environ 1,25 million de dollars) • jusqu’à 150 000 actions privilégiées Série B en échange d’une dette ≤ 15 millions de dollars • 20 000 actions privilégiées convertibles Série C émises pour des actifs acquis dans le cadre d’une opération de fusion-acquisition.
    Tous les titres incluent des options, bons de souscription ou droits de conversion pouvant générer des capitaux propres supplémentaires.
  • Objet commercial : Le dépôt confirme que l’émission de la Série C a été effectuée en paiement de « certains actifs » d’un vendeur tiers, signalant une stratégie d’expansion liée à une acquisition.
  • Efficacité des coûts : Aucune commission de vente ni frais d’intermédiaire n’ont été payés ; seuls 73 000 $ (estimés) des produits sont destinés à des paiements aux dirigeants/directeurs.
  • Profil de l’offre : Nouvel avis, première vente le 25 juin 2025 ; clôture prévue sous un an. L’émetteur a refusé de divulguer la fourchette de revenus et a utilisé la règle 506(b), limitant la sollicitation aux investisseurs accrédités et permettant des restrictions de revente.

Points clés pour les investisseurs : Cette levée augmente significativement la liquidité de SBEV pour réduire la dette et acquérir des actifs avec des coûts de transaction minimes. Toutefois, la forte dépendance aux actions privilégiées, aux bons de souscription et aux titres convertibles pourrait entraîner une dilution future et témoigne d’un besoin continu de croissance intensive en capital.

Splash Beverage Group, Inc. (SBEV) hat eine neue Form D-Meldung eingereicht, die den Abschluss des Großteils einer Privatfinanzierung gemäß Reg D Rule 506(b) anzeigt. Das Unternehmen hat bis zu 36,25 Millionen US-Dollar in einer Mischung aus Eigenkapital, Vorzugsaktien und Warrants im Zusammenhang mit einer Unternehmenszusammenschluss-Transaktion angeboten.

  • Kapitalbeschaffung: 33,321 Millionen US-Dollar (92 % des angegebenen Maximums) wurden bereits an 30 Investoren verkauft; 2,929 Millionen US-Dollar sind noch verfügbar.
  • Wertpapierstruktur: • bis zu 1.250 Vorzugsaktien der Serie A-1 und zugehörige Warrants (ca. 1,25 Mio. USD) • bis zu 150.000 Vorzugsaktien der Serie B im Austausch für bis zu 15 Mio. USD Schulden • 20.000 wandelbare Vorzugsaktien der Serie C, ausgegeben für Vermögenswerte, die in einer Unternehmenszusammenschluss-Transaktion erworben wurden.
    Alle Wertpapiere beinhalten Optionen, Warrants oder Wandlungsrechte, die zusätzliches Eigenkapital erzeugen könnten.
  • Geschäftszweck: Die Meldung bestätigt, dass die Ausgabe der Serie C als Zahlung für „bestimmte Vermögenswerte“ eines Drittverkäufers erfolgte, was auf eine akquisitionsbezogene Expansionsstrategie hinweist.
  • Kosteneffizienz: Es wurden keine Verkaufsprovisionen oder Vermittlungsgebühren gezahlt; nur 73.000 USD (geschätzt) der Erlöse sind für Zahlungen an Führungskräfte/Directors vorgesehen.
  • Angebotsprofil: Neue Meldung, erster Verkauf am 25. Juni 2025; Abschluss innerhalb eines Jahres erwartet. Der Emittent hat sich geweigert, die Umsatzspanne offenzulegen, und nutzte Rule 506(b), wodurch die Ansprache auf akkreditierte Investoren beschränkt und Weiterverkaufsbeschränkungen erlaubt sind.

Investorenausblick: Die Kapitalerhöhung stärkt die Liquidität von SBEV erheblich zur Schuldenreduzierung und Vermögensakquisition bei minimalen Transaktionskosten. Die starke Abhängigkeit von Vorzugsaktien, Warrants und wandelbaren Wertpapieren könnte jedoch zu zukünftiger Verwässerung führen und signalisiert einen anhaltenden kapitalintensiven Wachstumsbedarf.

Positive
  • $33.321 M already raised, providing significant liquidity.
  • No sales commissions or finders’ fees, preserving capital.
  • Convertible preferred used to retire up to $15 M of debt, potentially strengthening the balance sheet.
  • Proceeds linked to an asset acquisition, indicating strategic expansion.
Negative
  • Heavy use of preferred stock, warrants, and convertibles may cause future dilution.
  • Issuer declined to disclose revenue range, limiting transparency for investors.
  • Remaining $2.9 M still to be raised; full funding is not yet secured.
  • Business-combination details and acquired assets were not described, increasing information risk.

Insights

TL;DR: $33 M raise improves liquidity for Splash Beverage but convertible prefs add dilution risk; moderately positive overall.

Splash Beverage’s completion of 92% of a $36 M exempt offering is noteworthy for a micro-cap beverage firm that reported just $22 M sales last FY* (not provided in filing). Proceeds address three priorities: (1) acquisition of undisclosed assets via Series C issuance, (2) conversion of $15 M debt into Series B shares, and (3) limited cash plus warrants from Series A-1. The absence of placement fees conserves ~7-8% typical underwriting costs, effectively adding ~$2 M of value. Rule 506(b) confines buyers to accredited investors, suggesting a relationship-based raise rather than broad market appetite. Because 30 investors already participated, closing risk on the remaining $2.9 M appears low.

Dilution is the principal overhang. Series A-1/B/C convertibles and attached warrants could expand the float markedly if SBEV’s share price recovers. The deal’s linkage to a business-combination underscores management’s acquisition-driven growth strategy but also heightens integration and execution risks. Net impact: positively augments capital structure near-term, but shareholders must weigh dilution versus growth potential.

Splash Beverage Group, Inc. (SBEV) ha depositato una nuova comunicazione Form D che indica il completamento della maggior parte di un finanziamento privato effettuato ai sensi della Regola D, Regola 506(b). L'azienda ha offerto fino a 36,25 milioni di dollari in una combinazione di azioni ordinarie, azioni privilegiate e warrant legati a una transazione di fusione aziendale.

  • Capitale raccolto: 33,321 milioni di dollari (il 92% del massimo previsto) sono già stati venduti a 30 investitori; restano disponibili 2,929 milioni di dollari.
  • Struttura dei titoli: • fino a 1.250 azioni privilegiate Serie A-1 e relativi warrant (circa 1,25 milioni di dollari) • fino a 150.000 azioni privilegiate Serie B in cambio di un debito fino a 15 milioni di dollari • 20.000 azioni privilegiate convertibili Serie C emesse per beni acquisiti in una transazione di fusione aziendale.
    Tutti i titoli includono opzioni, warrant o diritti di conversione che potrebbero generare capitale aggiuntivo.
  • Finalità aziendale: Il deposito conferma che l'emissione della Serie C è stata effettuata come pagamento per “certi beni” di un venditore terzo, segnalando una strategia di espansione legata all’acquisizione.
  • Efficienza dei costi: Non sono state pagate commissioni di vendita o fees a intermediari; solo 73.000 dollari (stimati) dei proventi sono destinati a pagamenti a dirigenti e membri del consiglio.
  • Profilo dell’offerta: Nuova comunicazione, prima vendita il 25 giugno 2025; prevista chiusura entro un anno. L’emittente ha scelto di non divulgare la fascia di fatturato e ha utilizzato la Regola 506(b), limitando la sollecitazione agli investitori accreditati e imponendo restrizioni alla rivendita.

Considerazioni per gli investitori: Il finanziamento aumenta significativamente la liquidità di SBEV per la riduzione del debito e l’acquisizione di asset con costi di transazione contenuti. Tuttavia, l’ampio utilizzo di azioni privilegiate, warrant e titoli convertibili potrebbe causare una diluizione futura e segnala la necessità continua di crescita che richiede capitali rilevanti.

Splash Beverage Group, Inc. (SBEV) presentó un nuevo aviso Form D que indica la finalización de la mayor parte de una financiación privada realizada bajo la Regla D, Regla 506(b). La compañía ha ofrecido hasta 36,25 millones de dólares en una combinación de acciones ordinarias, acciones preferentes y warrants relacionados con una transacción de combinación empresarial.

  • Capital recaudado: 33,321 millones de dólares (el 92% del máximo declarado) ya han sido vendidos a 30 inversores; quedan disponibles 2,929 millones de dólares.
  • Estructura de los valores: • hasta 1.250 acciones preferentes Serie A-1 y warrants relacionados (≈ 1,25 millones de dólares) • hasta 150.000 acciones preferentes Serie B a cambio de una deuda de hasta 15 millones de dólares • 20.000 acciones preferentes convertibles Serie C emitidas por activos adquiridos en una transacción de combinación empresarial.
    Todos los valores incluyen opciones, warrants o derechos de conversión que podrían generar capital adicional.
  • Propósito empresarial: La presentación confirma que la emisión de la Serie C fue un pago por “ciertos activos” de un vendedor externo, señalando una táctica de expansión relacionada con adquisiciones.
  • Eficiencia de costos: No se pagaron comisiones de venta ni honorarios a intermediarios; solo 73,000 dólares (estimados) de los ingresos se destinan a pagos a ejecutivos/directores.
  • Perfil de la oferta: Nuevo aviso, primera venta el 25 de junio de 2025; se espera cierre dentro de un año. El emisor declinó revelar el rango de ingresos y utilizó la Regla 506(b), limitando la solicitud a inversores acreditados y permitiendo restricciones de reventa.

Conclusión para inversores: La recaudación aumenta materialmente la liquidez de SBEV para reducción de deuda y adquisición de activos con costos mínimos de transacción. Sin embargo, la fuerte dependencia de acciones preferentes, warrants y valores convertibles puede llevar a una dilución futura y señala necesidades continuas de crecimiento intensivo en capital.

Splash Beverage Group, Inc. (SBEV)Reg D Rule 506(b)에 따라 진행된 사모 자금 조달의 대부분이 완료되었음을 알리는 새로운 Form D 공시를 제출했습니다. 회사는 비즈니스 결합 거래와 관련된 보통주, 우선주 및 워런트 혼합 형태로 최대 3,625만 달러를 제안했습니다.

  • 모금 자본: 명시된 최대 금액의 92%인 3,332만 1,000달러가 이미 30명의 투자자에게 판매되었으며, 292만 9,000달러가 남아 있습니다.
  • 증권 구조: • 최대 1,250주 A-1 시리즈 우선주 및 관련 워런트 (약 125만 달러) • 최대 150,000주 B 시리즈 우선주, 최대 1,500만 달러의 부채 교환 • 비즈니스 결합 거래에서 취득한 자산에 대해 발행된 20,000주 C 시리즈 전환 우선주
    모든 증권에는 추가 지분을 창출할 수 있는 옵션, 워런트 또는 전환 권리가 포함되어 있습니다.
  • 사업 목적: 제출서류는 C 시리즈 발행이 제3자 판매자의 “특정 자산”에 대한 대금 지급임을 확인하며, 인수 관련 확장 전략임을 시사합니다.
  • 비용 효율성: 판매 수수료나 중개 수수료는 지급되지 않았으며, 수익금 중 약 7만 3,000달러만 경영진 및 이사에게 지급될 예정입니다.
  • 공모 프로필: 신규 공시, 첫 판매는 2025년 6월 25일; 1년 이내 종료 예정. 발행사는 매출 범위를 공개하지 않았으며, Rule 506(b)를 사용해 공모를 인증된 투자자로 제한하고 재판매 제한을 허용했습니다.

투자자 시사점: 이번 자금 조달은 거래 비용을 최소화하면서 부채 상환 및 자산 인수를 위한 SBEV의 유동성을 크게 강화합니다. 그러나 우선주, 워런트 및 전환 증권에 대한 높은 의존도는 향후 희석 가능성을 내포하며 지속적인 자본 집약적 성장 필요성을 나타냅니다.

Splash Beverage Group, Inc. (SBEV) a déposé un nouvel avis Formulaire D indiquant l’achèvement de la majeure partie d’un financement privé réalisé conformément à la règle D, règle 506(b). La société a proposé jusqu’à 36,25 millions de dollars dans un mélange d’actions ordinaires, d’actions privilégiées et de bons de souscription liés à une opération de fusion-acquisition.

  • Capital levé : 33,321 millions de dollars (92 % du maximum indiqué) ont déjà été vendus à 30 investisseurs ; 2,929 millions de dollars restent disponibles.
  • Structure des titres : • jusqu’à 1 250 actions privilégiées Série A-1 et bons de souscription associés (environ 1,25 million de dollars) • jusqu’à 150 000 actions privilégiées Série B en échange d’une dette ≤ 15 millions de dollars • 20 000 actions privilégiées convertibles Série C émises pour des actifs acquis dans le cadre d’une opération de fusion-acquisition.
    Tous les titres incluent des options, bons de souscription ou droits de conversion pouvant générer des capitaux propres supplémentaires.
  • Objet commercial : Le dépôt confirme que l’émission de la Série C a été effectuée en paiement de « certains actifs » d’un vendeur tiers, signalant une stratégie d’expansion liée à une acquisition.
  • Efficacité des coûts : Aucune commission de vente ni frais d’intermédiaire n’ont été payés ; seuls 73 000 $ (estimés) des produits sont destinés à des paiements aux dirigeants/directeurs.
  • Profil de l’offre : Nouvel avis, première vente le 25 juin 2025 ; clôture prévue sous un an. L’émetteur a refusé de divulguer la fourchette de revenus et a utilisé la règle 506(b), limitant la sollicitation aux investisseurs accrédités et permettant des restrictions de revente.

Points clés pour les investisseurs : Cette levée augmente significativement la liquidité de SBEV pour réduire la dette et acquérir des actifs avec des coûts de transaction minimes. Toutefois, la forte dépendance aux actions privilégiées, aux bons de souscription et aux titres convertibles pourrait entraîner une dilution future et témoigne d’un besoin continu de croissance intensive en capital.

Splash Beverage Group, Inc. (SBEV) hat eine neue Form D-Meldung eingereicht, die den Abschluss des Großteils einer Privatfinanzierung gemäß Reg D Rule 506(b) anzeigt. Das Unternehmen hat bis zu 36,25 Millionen US-Dollar in einer Mischung aus Eigenkapital, Vorzugsaktien und Warrants im Zusammenhang mit einer Unternehmenszusammenschluss-Transaktion angeboten.

  • Kapitalbeschaffung: 33,321 Millionen US-Dollar (92 % des angegebenen Maximums) wurden bereits an 30 Investoren verkauft; 2,929 Millionen US-Dollar sind noch verfügbar.
  • Wertpapierstruktur: • bis zu 1.250 Vorzugsaktien der Serie A-1 und zugehörige Warrants (ca. 1,25 Mio. USD) • bis zu 150.000 Vorzugsaktien der Serie B im Austausch für bis zu 15 Mio. USD Schulden • 20.000 wandelbare Vorzugsaktien der Serie C, ausgegeben für Vermögenswerte, die in einer Unternehmenszusammenschluss-Transaktion erworben wurden.
    Alle Wertpapiere beinhalten Optionen, Warrants oder Wandlungsrechte, die zusätzliches Eigenkapital erzeugen könnten.
  • Geschäftszweck: Die Meldung bestätigt, dass die Ausgabe der Serie C als Zahlung für „bestimmte Vermögenswerte“ eines Drittverkäufers erfolgte, was auf eine akquisitionsbezogene Expansionsstrategie hinweist.
  • Kosteneffizienz: Es wurden keine Verkaufsprovisionen oder Vermittlungsgebühren gezahlt; nur 73.000 USD (geschätzt) der Erlöse sind für Zahlungen an Führungskräfte/Directors vorgesehen.
  • Angebotsprofil: Neue Meldung, erster Verkauf am 25. Juni 2025; Abschluss innerhalb eines Jahres erwartet. Der Emittent hat sich geweigert, die Umsatzspanne offenzulegen, und nutzte Rule 506(b), wodurch die Ansprache auf akkreditierte Investoren beschränkt und Weiterverkaufsbeschränkungen erlaubt sind.

Investorenausblick: Die Kapitalerhöhung stärkt die Liquidität von SBEV erheblich zur Schuldenreduzierung und Vermögensakquisition bei minimalen Transaktionskosten. Die starke Abhängigkeit von Vorzugsaktien, Warrants und wandelbaren Wertpapieren könnte jedoch zu zukünftiger Verwässerung führen und signalisiert einen anhaltenden kapitalintensiven Wachstumsbedarf.

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities

OMB APPROVAL
OMB Number: 3235-0076
Estimated average burden
hours per response: 4.00

1. Issuer's Identity

CIK (Filer ID Number) Previous Names
None
Entity Type
0001553788
Canfield Medical Supply, Inc.
X Corporation
Limited Partnership
Limited Liability Company
General Partnership
Business Trust
Other (Specify)

Name of Issuer
SPLASH BEVERAGE GROUP, INC.
Jurisdiction of Incorporation/Organization
NEVADA
Year of Incorporation/Organization
X Over Five Years Ago
Within Last Five Years (Specify Year)
Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
SPLASH BEVERAGE GROUP, INC.
Street Address 1 Street Address 2
1314 EAST LAS OLAS BLVD SUITE 221
City State/Province/Country ZIP/PostalCode Phone Number of Issuer
FORT LAUDERDALE FLORIDA 33301 954-745-5815

3. Related Persons

Last Name First Name Middle Name
Nistico Robert
Street Address 1 Street Address 2
1314 East Las Olas Blvd Suite 221
City State/Province/Country ZIP/PostalCode
Fort Lauderdale FLORIDA 33301
Relationship: Executive Officer X Director Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
Yorke Justin
Street Address 1 Street Address 2
1314 East Las Olas Blvd Suite 221
City State/Province/Country ZIP/PostalCode
Fort Lauderdale FLORIDA 33301
Relationship: Executive Officer X Director Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
Caple Bill
Street Address 1 Street Address 2
1314 East Las Olas Blvd Suite 221
City State/Province/Country ZIP/PostalCode
Fort Lauderdale FLORIDA 33301
Relationship: Executive Officer X Director Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
Fore Thomas
Street Address 1 Street Address 2
1314 East Las Olas Blvd Suite 221
City State/Province/Country ZIP/PostalCode
Fort Lauderdale FLORIDA 33301
Relationship: Executive Officer X Director Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
Meissner William
Street Address 1 Street Address 2
1314 East Las Olas Blvd Suite 221
City State/Province/Country ZIP/PostalCode
Fort Lauderdale FLORIDA 33301
Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
Devereaux William
Street Address 1 Street Address 2
1314 East Las Olas Blvd Suite 221
City State/Province/Country ZIP/PostalCode
Fort Lauderdale FLORIDA 33301
Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):


4. Industry Group

Agriculture
Banking & Financial Services
Commercial Banking
Insurance
Investing
Investment Banking
Pooled Investment Fund
Is the issuer registered as
an investment company under
the Investment Company
Act of 1940?
Yes No
Other Banking & Financial Services
Business Services
Energy
Coal Mining
Electric Utilities
Energy Conservation
Environmental Services
Oil & Gas
Other Energy
Health Care
Biotechnology
Health Insurance
Hospitals & Physicians
Pharmaceuticals
Other Health Care
Manufacturing
Real Estate
Commercial
Construction
REITS & Finance
Residential
Other Real Estate
Retailing
Restaurants
Technology
Computers
Telecommunications
Other Technology
Travel
Airlines & Airports
Lodging & Conventions
Tourism & Travel Services
Other Travel
X
Other

5. Issuer Size

Revenue Range OR Aggregate Net Asset Value Range
No Revenues No Aggregate Net Asset Value
$1 - $1,000,000 $1 - $5,000,000
$1,000,001 - $5,000,000 $5,000,001 - $25,000,000
$5,000,001 - $25,000,000 $25,000,001 - $50,000,000
$25,000,001 - $100,000,000 $50,000,001 - $100,000,000
Over $100,000,000 Over $100,000,000
X Decline to Disclose Decline to Disclose
Not Applicable Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

Rule 504(b)(1) (not (i), (ii) or (iii))
Rule 504 (b)(1)(i)
Rule 504 (b)(1)(ii)
Rule 504 (b)(1)(iii)
X Rule 506(b)
Rule 506(c)
Securities Act Section 4(a)(5)
Investment Company Act Section 3(c)
Section 3(c)(1) Section 3(c)(9)
Section 3(c)(2) Section 3(c)(10)
Section 3(c)(3) Section 3(c)(11)
Section 3(c)(4) Section 3(c)(12)
Section 3(c)(5) Section 3(c)(13)
Section 3(c)(6) Section 3(c)(14)
Section 3(c)(7)

7. Type of Filing

X New Notice Date of First Sale 2025-06-25 First Sale Yet to Occur
Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year?
Yes X No

9. Type(s) of Securities Offered (select all that apply)

X Equity Pooled Investment Fund Interests
Debt Tenant-in-Common Securities
X Option, Warrant or Other Right to Acquire Another Security Mineral Property Securities
X Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security Other (describe)

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
X Yes No

Clarification of Response (if Necessary):

The issuer issued 20,000 shares of Series C Convertible Preferred Stock to a third party seller in exchange for certain assets.

11. Minimum Investment

Minimum investment accepted from any outside investor $0 USD

12. Sales Compensation

Recipient
Recipient CRD Number X None
(Associated) Broker or Dealer X None
(Associated) Broker or Dealer CRD Number X None
Street Address 1 Street Address 2
City State/Province/Country ZIP/Postal Code
State(s) of Solicitation (select all that apply)
Check "All States" or check individual States
All States
Foreign/non-US

13. Offering and Sales Amounts

Total Offering Amount $36,250,000 USD
or Indefinite
Total Amount Sold $33,321,000 USD
Total Remaining to be Sold $2,929,000 USD
or Indefinite

Clarification of Response (if Necessary):

Consists of up to 1,250 shares of Series A-1 preferred stock and warrants for up to $1,250,000, up to 150,000 shares of Series B preferred stock for up to $15 million of indebtedness, and 20,000 shares of Series C preferred stock for assets.

14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.
Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:
30

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions $0 USD
Estimate
Finders' Fees $0 USD
Estimate

Clarification of Response (if Necessary):

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$73,000 USD
X Estimate

Clarification of Response (if Necessary):

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:
  • Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*
  • Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.
  • Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer Signature Name of Signer Title Date
SPLASH BEVERAGE GROUP, INC. /s/ Robert Nistico Robert Nistico Chief Executive Officer 2025-07-08

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.


FAQ

How much capital has Splash Beverage Group (SBEV) raised in this Form D offering?

The company has sold $33.321 million of the $36.25 million maximum.

What securities did SBEV issue in the private placement?

Series A-1, Series B, and Series C preferred shares plus accompanying warrants and conversion rights.

Is the offering linked to an acquisition?

Yes. SBEV issued 20,000 Series C preferred shares to a third-party seller in exchange for certain assets.

Were any broker commissions paid on the SBEV raise?

No. The filing reports $0 in sales commissions and finder’s fees.

How many investors participated in the financing?

The notice lists 30 investors to date.

What exemption did SBEV rely on for this private placement?

The company claimed Rule 506(b) under Regulation D.
Splash Beverage Group Inc

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FORT LAUDERDALE