Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s
Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
The Company’s Common Stock and tradeable
warrants are publicly traded on the NYSE American under the symbol “SBEV” and “SBEV WS”.
Aggregate Number of Holders of Common Stock
As of March 29, 2024, there were 45,129,687
shares of Common Stock issued and outstanding. As of March 29, 2024, at our transfer agent owners totaled approximately 273 holders
of record of our Common Stock.
Dividends
We have not declared any cash dividends on our common
stock since inception and do not anticipate paying such dividends in the foreseeable future. We plan to retain any future earnings for
use in our business operations. Any decisions as to future payment of cash dividends will depend on our earnings and financial position
and such other factors as the Board of Directors deems relevant.
Securities Authorized for Issuance under Equity
Compensation Plans
None.
Equity Compensation Plan Information
The information required by this item with respect
to securities authorized for issuance under equity compensation plans is set forth in Part III, Item 12 of this Annual Report on Form
10-K, and is incorporated herein by reference.
22
Purchases of Equity Securities by the Issuer.
There were no repurchases of our common stock during
the year ended December 31, 2023.
Use of Proceeds
On June 7, 2021, our Registration Statement, as amended,
and originally filed on Form S-1 (File No. 333-255091) was declared effective by the SEC for our initial public offering of 7,500,000
units, including 3,750,000 additional shares of common stock and 3,750,000 warrants to purchase shares of common stock, each at an offering
price of $4.00 per share, for aggregate gross proceeds of approximately $15.0 million. After deducting underwriting discounts and
commissions and other estimated offering expenses incurred by us of approximately $1.2 million, the net proceeds from the offering were
approximately $13.8 million. Kingswood Capital Markets, a division of Benchmark Investments, LLC acted as sole book-running manager and
the representative of the underwriters of the underwritten public offering. No offering costs were paid or are payable, directly, or
indirectly, to our directors or officers, to persons owning 10% or more of any class of our equity securities, or to any of our affiliates.
Our common stock and warrants are traded on Nasdaq under the symbols “SBEV” and “SBEV WS”, respectively.
There has been no material change in the expected
use of the net proceeds from our underwritten public offering as described in our final prospectus filed with the SEC on June 14, 2021.
Upon receipt, the net proceeds from our underwritten public offering were held in cash and cash equivalents. As of December 31, 2023,
we have used approximately all of the net proceeds from the underwritten public offering, primarily on working capital and general corporate
purposes.
Item 6. {Reserved}