Alkaline Water Signs LOI for Equipment Acquisition
Deal News | Feb 13, 2025 | Globenewswire
The Alkaline Water Company, Inc., a prominent player in the beverage industry, has announced a Letter of Intent with FZA Note Buyers LLC for a strategic acquisition of production equipment. This is to be funded through the issuance of 34 million shares of restricted common stock, subject to a 12-month lock-up period. The acquisition is expected to boost the company's production capacity and operational efficiencies, resulting in projected savings of up to $2 million in the first year without impacting the trading float. CEO Ricky Wright sees this as a significant step in the company's transformation and growth strategy. The company aims to close the transaction upon securing a facility lease and completing due diligence, with a 30-day timeline for equipment integration post-closing.
Sectors
- Beverage Industry
- Manufacturing Equipment
- Securities Market
Geography
- United States – The Alkaline Water Company is based in Glendale, Arizona, and the transaction involves a Florida-based company.
Industry
- Beverage Industry – The article discusses The Alkaline Water Company, a leader in the beverage industry known for its purified alkaline water products.
- Manufacturing Equipment – The article involves a strategic equipment acquisition aimed at increasing production capabilities and operational efficiency.
- Securities Market – The proposed transaction involves the issuance of common stock subject to a lock-up period.
Financials
- 34,000,000 shares – Shares of Common Stock (Restricted) to be issued for the equipment acquisition, subject to a 12-month lock-up period.
- $2 million – Projected cost savings and operational improvements in the first year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Alkaline Water Company, Inc. | Target company | Company | A leader in the beverage industry known for its alkaline water products. |
| FZA Note Buyers LLC | Bidding company | Company | A Florida limited liability company involved in the equipment acquisition deal. |
| Ricky Wright | CEO | Person | CEO of The Alkaline Water Company, overseeing the strategic acquisition. |