NEW YORK, Jan. 03, 2019 (GLOBE NEWSWIRE) -- 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.
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.
About Sichenzia Ross Ference LLP
Sichenzia Ross Ference LLP is a full service law firm with a nationally recognized corporate and securities that provides experienced representation in all matters involving the securities industry. Our attorneys specialize in advising clients in private placements, initial (IPOs) and secondary public offerings, mergers and acquisitions (M&A), preparation of SEC filings and listing to major stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. The firm also complements its core practice areas with an established commercial real estate and trusts and estates practice. Visit www.srf.law to learn more.
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