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NewAge, Inc. (NBEV)

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2.9700-0.0400 (-1.33%)
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Previous Close3.0100
Open3.0400
Bid2.9500 x 3000
Ask2.9900 x 1800
Day's Range2.8300 - 3.0688
52 Week Range0.9810 - 3.4900
Volume2,673,053
Avg. Volume2,271,423
Market Cap354.692M
Beta (5Y Monthly)1.95
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • NewAge Upgrades Financial Flexibility With the Addition of a New $30 Million Debt Facility
    GlobeNewswire

    NewAge Upgrades Financial Flexibility With the Addition of a New $30 Million Debt Facility

    Total unrestricted cash balance now in excess of $50MMDENVER, Dec. 01, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based social selling and distribution company with a network of independent business owners across 75 countries worldwide, today announced that it will close a new debt facility for a total of $30 million, increasing its unrestricted cash balance to more than $50 million. The new two-year debt facility with funds and accounts managed by JGB Management, Inc. (JGB), replaces the existing line of credit that the Company had in place with East West Bank, which will be satisfied in full at closing. In addition to eliminating the East West facility, the new line of credit will be used to provide $10 million in cash as part of the ARIIX transaction and for general working capital purposes. Details of the agreement are included in the Company’s Current Report on Form 8-K filed on December 1, 2020.Greg Gould, Chief Financial Officer of NewAge, commented, “We are pleased to be able to secure this financing and partner with a great organization like JGB. I’m excited about our new partnership with JGB, which even further strengthens our company’s financial position. We intend to use the funds to fully pay off our loan balance with East West Bank, fulfill our cash payment obligation under the ARIIX transaction, and use strategically to fund operating activities designed to accelerate our global organic revenue growth. With the addition of this financing our unrestricted cash balance will now exceed $50 million. With the completion of the NewAge/ARIIX merger and the expected improved cash generation of the combined company augmented with the new credit facility, I believe we have significant financial flexibility to meet our organic operating needs throughout 2021.”Brett Cohen, Founder of JGB mentioned, “We are very excited to be working with NewAge and to provide the financing for their organic growth and other needs. We look forward to this new relationship and being a key component of their strategic growth plans.”Advising NewAge on the transaction was A.G.P./Alliance Global Partners as advisor and placement agent. About NewAge, Inc. (NASDAQ: NBEV) NewAge is a Colorado-based organic and healthy products company intending to become one of the world’s leading social selling and distribution companies. The Company builds brands across three primary platforms including health and wellness, healthy appearance, and nutritional performance. NewAge employs an omnichannel route to market across more than 75 countries worldwide with a team of more than 400,000 independent distributors. 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.About A.G.P. /Alliance Global Partners A.G.P./Alliance Global Partners is an investment banking and advisory firm that has been a member of FINRA and registered with the SEC since 1980. A.G.P provides brokerage and wealth management services with access to all major domestic exchanges as well as over 30 global markets. A.G.P. specializes in wealth management and the middle market institutional arena. A.G.P. provides clients with boutique-level services along with the confidence of knowing their assets are held at Fidelity Clearing and Custody. A.G.P maintains long-lasting relationships with clients, ranging from some of the largest institutions investors and selected individual investors. More information on Alliance General Partners can be found at www.allianceg.com.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, upgrades to NewAge’s financial position, acceleration of our global organic revenue growth, expected improved cash generation of the combined company, having significant financial flexibility to meet the Company’s organic operating needs throughout 2021, 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 Timmer Vice President, Investor Relations Tel: 1-801-870-8685 Riley_Timmer@NewAge.comInvestor Relations Counsel: John Mills/Scott Van Winkle ICR – Strategic Communications and Advisory Tel: 1-646-277-1254/1-617-956-6736 newage@icrinc.comNewAge, Inc.: Gregory A. Gould Chief Financial Officer Tel: 1-303-566-3030 Greg_Gould@NewAge.com

  • Dr. Fred W. Cooper Joins Board of Directors of NewAge, Inc.
    GlobeNewswire

    Dr. Fred W. Cooper Joins Board of Directors of NewAge, Inc.

    DENVER, Nov. 19, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based social selling and distribution company with a network of independent business owners across 75 countries worldwide, today announced that it has appointed Dr. Fred W. Cooper, Ph.D., as a member of its board of directors, effective November 16, 2020. Dr. Cooper brings more than 25 years of e-commerce and direct selling experience and was a Founder and the Chief Executive Officer of ARIIX prior to completing the merger. Under Dr. Cooper’s leadership, ARIIX was one of the fastest-growing direct selling companies over its nine years of business, and in 2020, was recognized as number 35 on the DSN’s list of Top 100 global companies. Prior to founding ARIIX in July 2011, he was the President and Chief Operating Officer of NYSE listed USANA Health Sciences. He started his career in direct sales at USANA in 1998 where he played many critical roles, serving in different executive capacities in Special Projects, Information Technology, and Global Operations. Dr. Cooper also spent over ten years teaching entrepreneurship and statistics courses as a part-time professor at the University of Utah.Dr. Cooper earned a B.S. in Finance and a B.S. in Psychology from the University of Utah. He also earned a Ph.D. in Business Administration, with an emphasis on statistics and operations processes and management, from the University of UtahGreg Fea, Chairman of the Board of NewAge, commented, “We are pleased to welcome Dr. Cooper to the Board and look forward to working closely with him to further the success of NewAge. His expertise in Direct Sales at the highest levels makes for a natural addition as we continue to execute our direct-to-consumer strategy. His track record in the industry is unmatched, which along with his diverse experience as a successful business owner, entrepreneur, and a former top executive of a publicly-traded company, significantly strengthens the NewAge Board.”In response to his appointment to the Board of Directors of NewAge, Dr. Cooper commented, “I’m excited to take on a new responsibility to help guide the strategic direction of NewAge, combining our global leading companies. I know and have worked personally with many of the new executives of NewAge and have a high level of confidence in their leadership and abilities. NewAge is well-positioned globally to drive growth, improve profitability, and reach more consumers than ever before. I look forward to playing a significant role to help further the company’s position in the global consumer market to create additional value for all of our representatives, consumers and shareholders.”About NewAge, Inc. (NASDAQ: NBEV) NewAge is a Colorado-based organic and healthy products company dedicated to inspiring and educating consumers to “Live Healthy.” The Company is a social selling and distribution company with access to e-commerce, direct-to-consumer, and medical channels across more than 75 countries worldwide when combined with ARIIX. NewAge markets a portfolio of better-for-you products including the brands Tahitian Noni, TeMana, ‘Nhanced and others. The Company operates the websites www.newage.com, www.noninewage.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, 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 Timmer Vice President, Investor Relations Tel: 1-801-870-8685 Riley_Timmer@NewAge.comInvestor Relations Counsel: John Mills/Scott Van Winkle ICR – Strategic Communications and Advisory Tel: 1-646-277-1254/1-617-956-6736 newage@icrinc.comNewAge, Inc.: Gregory A. Gould Chief Financial Officer Tel: 1-303-566-3030 Greg_Gould@NewAge.com

  • NewAge and ARIIX Close Merger
    GlobeNewswire

    NewAge and ARIIX Close Merger

    Combined company exceeds $500 million in expected annualized net revenue Enhanced profitability expected to materialize immediately >$20 million of anticipated annualized synergies from mergerDENVER, Nov. 16, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based social selling and distribution company with a network of independent business owners across 75 countries worldwide, today announced that it has finalized and closed the merger agreement for the acquisition of ARIIX. Details of the final agreement and plan of merger are included in the Company’s Current Report on Form 8-K filed on November 16, 2020.Brent Willis, Chief Executive Officer of NewAge, commented, “We are very pleased to be able to fully converge these great companies now that the merger is complete. Both the revenue and cost synergies of the combined organization will start to be recognized immediately in Q4, in our financial results. Importantly, this merger represents a major strengthening for NewAge in its direct-to-consumer model where we see the most significant opportunities for growth and profitability. We believe we now have the scale, the team, the brands, and the financial strength to drive excellent growth and return for shareholders and all of our valued independent representatives and consultants worldwide.”NewAge continues to expect to capture approximately $20 million in additional annualized EBITDA in the first 18 months and revenue synergies in the areas of cost of goods sold, manufacturing efficiencies and scale, operational redundancy, cross-pollination of brands, and market and channel expansion. NewAge has already captured more than $10 million in headcount related savings over the past six months, and expects significant further benefits across all its identified synergy workstreams.Fred Cooper, CEO of ARIIX, who is now joining the NewAge Board of Directors said, “Completing this merger with NewAge is a tremendous milestone for all of our independent representatives, employees, and customers who have been a part of ARIIX over the last nine years. We are better positioned than ever before to continue to disrupt the industry and further our strategy to become the world’s leading social selling and distribution company. We believe providing our representatives with access to more markets, more products, and more opportunities will accelerate our organic growth and incentivize our leaders to grow their businesses at an even faster pace. We believe we are very well positioned to take advantage of global consumer trends to buy direct and capture additional market share.”On July 20, 2020, NewAge, Inc., announced the signing of an agreement to acquire ARIIX and four other e-commerce/direct selling companies. The definitive agreement was amended and restated on September 30, 2020. The combination is expected to create a company with expected annual revenues of more than $500 million, a blended gross margin of 70%, and expected EBITDA of more than $30 million.About NewAge, Inc. (NASDAQ: NBEV) NewAge is a Colorado-based organic and healthy products company dedicated to inspiring and educating consumers to “Live Healthy.” The Company is a social selling and distribution company with access to e-commerce, direct-to-consumer, and medical channels across more than 75 countries worldwide when combined with ARIIX. NewAge markets a portfolio of better-for-you products including the brands Tahitian Noni, TeMana, ‘Nhanced and others. The Company operates the websites www.newage.com, www.noninewage.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, 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 Timmer Vice President, Investor Relations Tel: 1-801-870-8685 Riley_Timmer@NewAge.comInvestor Relations Counsel: John Mills/Scott Van Winkle ICR – Strategic Communications and Advisory Tel: 1-646-277-1254/1-617-956-6736 newage@icrinc.comNewAge, Inc.: Gregory A. Gould Chief Financial Officer Tel: 1-303-566-3030 Greg_Gould@NewAge.com