Zevia Announces $20 Million Growth Equity Investment
Zevia has agreed to issue $20 million of Series A Senior Convertible Preferred Stock to a fund managed by GP Investments, priced to convert at 120% of the 10-day VWAP with a 6% PIK dividend and a GP board designee. The capital funds a strategic reset spanning product innovation, digital-first marketing, and a hybrid DSD-plus-third-party go-to-market push, after a 12-month Piper Sandler review of strategic alternatives. Alongside the deal, Zevia pre-announced preliminary Q3 2026 net sales of about $48 million versus prior guidance of $44-46 million, and adjusted EBITDA loss narrowing to roughly $1 million from a $3.0-3.5 million guided loss.
Key figures
- Revenue
- $48 million
- Guidance
- Preliminary Q3 2026 net sales ~$48 million (above prior $44M-$46M); adjusted EBITDA between negative $900 thousand and negative $1.0 million (above prior negative $3.0M to negative $3.5M)
- Deal Value Usd
- 20000000
- Conversion premium
- 120% of 10-day VWAP preceding signing
- Preferred dividend
- 6% payable in kind
AI analysis
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