Endovia Health Sciences, Inc. (SBEV) Form S-1 — Oct 27, 2026
Endovia Health Sciences (formerly Splash Beverage Group, SBEV/EDVA) filed an S-1 registering 1,013,041 shares for resale by C/M Capital Master Fund under its $35 million equity line of credit, with up to $29.8 million remaining available to the company. The company is in severe financial distress: going-concern doubt, a $25.2 million FY2025 net loss, negative stockholders' equity of $15.3 million, and no revenue since March 2025. It received an NYSE American non-compliance notice and must regain compliance by January 29, 2027, with a trading halt in July 2026 when the stock fell below $0.10, addressed only by a 1-for-4 reverse split; a further reverse split is barred until March 2027.
Key figures
- Gross Proceeds
- 29800324
- Offering Price
- 95% of lower of 5-day VWAP or lowest trading price (floor $3.60 fixed / $3.40 VWAP)
- Shares Offered
- 1013041
- Shares Outstanding
- 11412554
- Fy2025 net loss
- 25200000
- Max eloc commitment
- 35000000
- Prior eloc proceeds
- 5550998
- Reverse split ratio
- 1-for-4 (July 24, 2026)
- Series d floor price
- 0.6
- Prior eloc shares sold
- 9924459
- Nyse compliance deadline
- 2027-01-29
- Conversion price series d
- 1
- Shares underlying options
- 1621445
- Last sale price 2026 10 22
- 0.1493
- Shares underlying warrants
- 1875384
- Shares underlying convertible notes
- 7715767
- Shares underlying convertible preferred
- 11186647
AI analysis
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