secwatch.observer — SEC 8-K summary
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Issuer:     SPLASH BEVERAGE GROUP, INC. (SBEV)
CIK:        0001553788
Form:       8-K
Filed at:   2025-06-26T23:59:59+00:00
Accession:  0001731122-25-000910
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 3.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Splash Beverage exchanges $12.7M debt for preferred equity; buys Costa Rica water rights
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- Exchanged $12.67M of notes for 126,704 shares of Series B Preferred (stated $100, 12% div, convert at $6.00).
- Sold 650 Series A-1 shares for $650K gross; convert after approval at lower of $4.00 or 80% 5-day VWAP (floor $1.25).
- Acquired Costa Rica aquifer water rights for 20,000 Series C shares (stated $1K, convert at $3.00); $20M alternative if assets not delivered.
- Believes shareholders' equity now >$6M, curing NYSE American deficiency; still needs to file delinquent 10-K and 10-Q.
- Side letter gave three holders lower conversion of $1.50, 125% redemption premium, and price protection on Series B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1553788/000173112225000910/0001731122-25-000910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1553788/000173112225000910/e6672_8k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-25-000910

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