NEW YORK, Jan. 03, 2019 — Sichenzia Ross Ference LLP, a leading securities and corporate law firm, announced today that its mergers and acquisitions team represented New Age Beverages Corporation (NASDAQ:NBEV) in its acquisition of Morinda Holdings, Inc., a Utah-based healthy beverages and lifestyle company with operations in more than 60 countries worldwide.
The consideration for the merger was $85 million, comprised of $75 million in cash and $10 million paid in 2,016,480 shares of New Age common stock based on the 40-day volume-weighted average price calculated through December 20, 2018. The transaction was subject to the pre-merger notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended and closed on December 21, 2018.
The full Sichenzia Ross release can be found here.
New Age is a Colorado-based healthy beverage company focused on inspiring, educating, and hydrating consumers. The Company is the only one-stop-shop of healthy beverages, and includes the brands Tahitian Noni, Búcha Live Kombucha, XingTea, Coco-Libre, Marley, and others.
The Sichenzia Ross Ference LLP team was led by Partners Gregory Sichenzia, Tara Guarneri-Ferrara and Marcelle Balcombe.
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