Skip to content
Food Beverages

Innovation Beverage Group Limited Announces Pricing of $5.4 Million Initial Public Offering on the Nasdaq Capital Market Under Symbol “IBG”

Innovation Beverage Group 3 mins read

SYDNEY, AUSTRALIA / ACCESSWIRE / September 26, 2024 / Innovation Beverage Group Limited ("IBG" or the "Company"), a developer, manufacturer, marketer, exporter and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands with a focus on premium and super premium brands, today announced the pricing of its initial public offering (the "Offering") of 1,350,000 ordinary shares, at a public offering price of $4.00 per share for total gross proceeds to the Company of $5.4 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted a 30-day option to the underwriters to purchase up to an additional 202,500 ordinary shares solely to cover over-allotments, if any.

The ordinary shares are expected to begin trading on The Nasdaq Capital Market, under the symbols "IBG", on September 26, 2024. The Offering is expected to close on or about September 27, 2024, subject to satisfaction of customary closing conditions.

The Benchmark Company, LLC is acting as sole book-running manager for the Offering. Sichenzia Ross Ference Carmel LLP is serving as legal counsel to the Company.

A registration statement on Form F-1 (No. 333-266965) relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (the "SEC") on September 25, 2024. The Offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, on the SEC's website, www.sec.gov, or by contacting The Benchmark Company, LLC, 150 East 58th Street, #17, New York, New York 10155, at (212) 312-6700.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Innovation Beverage Group Limited

Innovation Beverage Group Limited is a developer, manufacturer, marketer, exporter and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands with a focus on premium and super premium brands. The Company owns exclusive manufacturing rights in its beverage portfolio. The Company's products are sold in both the United States and Australian markets. To learn more, go to https://www.innovationbev.com/.

Safe Harbor Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "may", "could", "expects", "projects," "intends", "plans", "believes", "predicts", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company's control. Actual results (including the anticipated benefits of the offering described herein) may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.

Investor Relations Contact:

TraDigital IR
John McNamara
917-658-2602
John@tradigitalir.com

SOURCE: Innovation Beverage Group



View the original press release on accesswire.com

More from this category

  • Agriculture Farming Rural, Food Beverages
  • 10/03/2025
  • 15:00
On behalf of Box Divvy

Box Divvy Moves Away from Tasmanian Farmed Salmon Amid Sustainability Concerns

With increasing scrutiny on the Tasmanian salmon industry, ethical food supplier Box Divvy has announced a shift away from Tasmanian farmed salmon, citing concerns over sustainability, environmental impact, and corporate transparency. Instead, the company will now source New Zealand King Salmon, a supplier rated more sustainable by the globally respected Seafood Watch program. The move follows mounting criticism of Tasmania’s farmed salmon sector, which has been linked to habitat degradation, antibiotic use, and fish escapes, raising concerns over its long-term viability. Tasmanian fish pens regularly experience mass mortality events due to overpopulation and environmental stress. The latest saw thousands of…

  • Environment, Food Beverages
  • 06/03/2025
  • 09:00
No More Gas - Friends of the Earth Melbourne

Get Grill’d off gas – Friends of the Earth launches campaign

Friends of the Earth Melbourne today launches a national campaign to urge Grill’d to switch their business from polluting gas to all-electric cooking. The…

  • Contains:
  • Agriculture Farming Rural, Food Beverages
  • 04/03/2025
  • 11:30
Australian Conservation Foundation

Food strategy must deliver for farmers, consumers and nature

The Australian Conservation Foundation has welcomed the Albanese government’s election commitment to deliver a national food strategy and establish a National Food Council, and says any plan must deliver food systems that work for people, nature and the climate. “A national food strategy is needed so future generations of Australians have access to food that is affordable and nutritious, that keeps family farms viable and operates within nature’s limits,” said ACF’s business and nature lead Nathaniel Pelle. “Any national strategy should prioritise ways to properly reward famers who protect and restore nature on their farms while producing food,” Mr Pelle…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.