Splash Beverage Shares Down 12% After Public Offering News

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By Stephen Nakrosis

Shares of Splash Beverage Group Inc. were trading lower in Thursday’s after-hours market, following the company’s announcement of an underwritten public offering.

Splash said it plans to use proceeds from the offering to “support additional distribution and retail authorizations gained recently.”

At 5:37 p.m. ET, the company’s shares were trading 12.37% lower at $1.70 a share. Volume at the time topped 44,000 shares. The stock finished the day’s regular session with an 8.49% loss, closing at $1.94 a share.

Splash said it owns a growing portfolio of alcoholic and non-alcoholic beverage brands.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com