Blueprint
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 5,
2019
REGISTRATION NO. 333-__________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-3
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933
NEW AGE BEVERAGES CORPORATION
(Exact
name of registrant as specified in its charter)
Washington
(State
or other jurisdiction of
incorporation
or organization)
27-2432263
I.R.S.
Employer Identification Number
1700 E.
68th
Avenue
Denver,
CO, 80229
Telephone: (303) 289-8655
(Address,
including zip code, and telephone number, including area code of
registrant’s principal executive offices)
Brent
D. Willis
Chief
Executive Officer
New Age
Beverages Corporation
1700 E.
68th
Avenue
Denver,
CO, 80229
Telephone:
(303) 289-8655
(Name,
address, including zip code, and telephone number, including area
code, of agent for service)
Copies
to:
Gregory
Sichenzia, Esq.
Marcelle
S. Balcombe, Esq.
Sichenzia
Ross Ference LLP
1185
Avenue of the Americas, 37th Floor
New
York, NY 10036
(212)
930-9700
Approximate
date of commencement of proposed sale to the public: From time to
time after the effective date of this registration
statement.
If the
only securities being registered on this Form are being offered
pursuant to dividend or interest reinvestment plans, please check
the following box: ☐
If any
of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, other than securities offered only in
connection with dividend or interest reinvestment plants, check the
following box: ☒
If this
Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same
offering. ☐
If this
Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier
effective registration statement for the same offering.
☐
If this
Form is a registration statement pursuant to General Instruction
I.D. or a post-effective amendment thereto that shall become
effective upon filing with the Commission pursuant to Rule 462(e)
under the Securities Act, check the following box.
☐
If this
Form is a post-effective amendment to a registration statement
filed pursuant to General Instruction I.D. filed to register
additional securities or additional classes of securities pursuant
to Rule 413(b) under the Securities Act, check the following box.
☐
Indicate
by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of
“large accelerated filer,” “accelerated
filer” “smaller reporting company” and
“emerging growth company” in Rule 12b-2 of the Exchange
Act:
☐
Large accelerated filer
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☐
Accelerated filer
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☒
Non-accelerated filer
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☒
Smaller reporting company
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☒
Emerging growth company
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If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of Securities Act.
[ ]
CALCULATION OF REGISTRATION FEE
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Title of each
class of
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Securities to be
registered
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Common stock, par
value $0.001 per share
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—
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—
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—
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Preferred stock,
par value $0.001 per share
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Warrants(4)
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Units(5)
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Total
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$200,000,000
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$24,240.00
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(1)
There are being
registered hereunder such indeterminate number of shares of common
stock, preferred stock, and warrants to purchase common stock or
preferred stock, as shall have an aggregate initial offering price
not to exceed $200,000,000. The securities registered also include
such indeterminate amounts and numbers of common stock and
preferred stock as may be issued upon conversion of or exchange for
preferred stock that provide for conversion or exchange, upon
exercise of warrants, or pursuant to the antidilution provisions of
any such securities.
(2)
In no event will
the aggregate offering price of all securities issued from time to
time pursuant to this registration statement exceed
$200,000,000.
(3)
Calculated pursuant
to Rule 457(o) under the Securities Act. The total amount is being
paid herewith.
(4)
Includes warrants
to purchase common stock and warrants to purchase preferred
stock.
(5)
Any of the
securities registered hereunder may be sold separately, or as units
with other securities registered hereby. We will determine the
proposed maximum offering price per unit when we issue the above
listed securities. The proposed maximum per unit and aggregate
offering prices per class of securities will be determined from
time to time by the registrant in connection with the issuance by
the registrant of the securities registered under this registration
statement and is not specified as to each class of security
pursuant to General Instruction II.D of Form S-3 under the
Securities Act.
The
registrant hereby amends this Registration Statement on such date
or dates as may be necessary to delay its effective date until the
registrant shall file a further amendment which specifically states
that this Registration Statement shall thereafter become effective
in accordance with Section 8(a) of the Securities Act of 1933 or
until the Registration Statement shall become effective on such
date as the Commission, acting pursuant to said Section 8(a), may
determine.
The information in this prospectus is not complete and may be
changed. We may not sell these securities until the registration
statement relating to these securities that has been filed with the
Securities and Exchange Commission is effective. This prospectus is
not an offer to sell these securities and it is not soliciting an
offer to buy these securities in any state where the offer or sale
is not permitted.
(Subject to Completion, Dated April 5, 2019)
PROSPECTUS
$200,000,000
New Age Beverages Corporation
Common Stock
Preferred Stock
Warrants
Units
We may
from time to time, in one or more offerings at prices and on terms
that we will determine at the time of each offering, sell common
stock, preferred stock, warrants, or a combination of these
securities, or units, for an aggregate initial offering price of up
to $200,000,000. This prospectus describes the general manner in
which our securities may be offered using this prospectus. Each
time we offer and sell securities, we will provide you with a
prospectus supplement that will contain specific information about
the terms of that offering. Any prospectus supplement may also add,
update, or change information contained in this prospectus. You
should carefully read this prospectus and the applicable prospectus
supplement as well as the documents incorporated or deemed to be
incorporated by reference in this prospectus before you purchase
any of the securities offered hereby.
This
prospectus may not be used to offer and sell securities unless
accompanied by a prospectus supplement.
Our
common stock is currently traded on the NASDAQ Capital Market under
the symbol “NBEV.” On April 4, 2019, the last reported
sales price for our common stock was $4.96 per share. We will apply
to list any shares of common stock sold by us under this prospectus
and any prospectus supplement on the NASDAQ Capital Market. The
prospectus supplement will contain information, where applicable,
as to any other listing of the securities on the NASDAQ Capital
Market or any other securities market or exchange covered by the
prospectus supplement.
The
securities offered by this prospectus involve a high degree of
risk. See “Risk Factors” beginning on page
6, in addition to
Risk Factors contained in the applicable prospectus
supplement.
Neither
the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.
We may
offer the securities directly or through agents or to or through
underwriters or dealers. If any agents or underwriters are involved
in the sale of the securities their names, and any applicable
purchase price, fee, commission or discount arrangement between or
among them, will be set forth, or will be calculable from the
information set forth, in an accompanying prospectus supplement. We
can sell the securities through agents, underwriters or dealers
only with delivery of a prospectus supplement describing the method
and terms of the offering of such securities. See “Plan of
Distribution.”
This
prospectus is
dated
, 2019
Table of Contents
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Page
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ABOUT
THIS PROSPECTUS
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1
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CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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1
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ABOUT
NEW AGE BEVERAGES CORPORATION
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2
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RISK
FACTORS
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6
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USE OF
PROCEEDS
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6
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DESCRIPTION
OF COMMON STOCK
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6
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DESCRIPTION
OF PREFERRED STOCK
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7
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DESCRIPTION
OF WARRANTS
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8
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DESCRIPTION
OF UNITS
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9
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PLAN
OF DISTRIBUTION
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10
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LEGAL
MATTERS
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12
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EXPERTS
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12
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WHERE
YOU CAN FIND MORE INFORMATION
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12
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INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE
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12
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You
should rely only on the information contained or incorporated by
reference in this prospectus or any prospectus supplement. We have
not authorized anyone to provide you with information different
from that contained or incorporated by reference into this
prospectus. If any person does provide you with information that
differs from what is contained or incorporated by reference in this
prospectus, you should not rely on it. No dealer, salesperson or
other person is authorized to give any information or to represent
anything not contained in this prospectus. You should assume that
the information contained in this prospectus or any prospectus
supplement is accurate only as of the date on the front of the
document and that any information contained in any document we have
incorporated by reference is accurate only as of the date of the
document incorporated by reference, regardless of the time of
delivery of this prospectus or any prospectus supplement or any
sale of a security. These documents are not an offer to sell or a
solicitation of an offer to buy these securities in any
circumstances under which the offer or solicitation is
unlawful.
ABOUT THIS PROSPECTUS
This
prospectus is part of a registration statement that we filed with
the Securities and Exchange Commission, or SEC, using a
“shelf” registration process. Under this shelf
registration process, we may sell any combination of the securities
described in this prospectus in one of more offerings up to a total
dollar amount of proceeds of $200,000,000. This prospectus
describes the general manner in which our securities may be offered
by this prospectus. Each time we sell securities, we will provide a
prospectus supplement that will contain specific information about
the terms of that offering. The prospectus supplement may also add,
update or change information contained in this prospectus or in
documents incorporated by reference in this prospectus. The
prospectus supplement that contains specific information about the
terms of the securities being offered may also include a discussion
of certain U.S. Federal income tax consequences and any risk
factors or other special considerations applicable to those
securities. To the extent that any statement that we make in a
prospectus supplement is inconsistent with statements made in this
prospectus or in documents incorporated by reference in this
prospectus, you should rely on the information in the prospectus
supplement. You should carefully read both this prospectus and any
prospectus supplement together with the additional information
described under “Where You Can Find More Information”
before buying any securities in this offering.
Unless
the context otherwise requires, references to “we,”
“our,” “us,” “New Age
Beverages” or the “Company” in this prospectus
mean New Age Beverages Corporation, a Washington corporation, on a
consolidated basis with its wholly-owned subsidiaries, as
applicable.
CAUTIONARY STATEMENT
REGARDING FORWARD-LOOKING STATEMENTS
This
prospectus, including the documents that we incorporate by
reference, contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”).
Such forward-looking statements include those that express plans,
anticipation, intent, contingency, goals, targets or future
development and/or otherwise are not statements of historical fact.
These forward-looking statements are based on our current
expectations and projections about future events and they are
subject to risks and uncertainties known and unknown that could
cause actual results and developments to differ materially from
those expressed or implied in such statements.
In
some cases, you can identify forward-looking statements by
terminology, such as “expects,”
“anticipates,” “intends,”
“estimates,” “plans,”
“believes,” “seeks,” “may,”
“should,” “could” or the negative of such
terms or other similar expressions. Accordingly, these statements
involve estimates, assumptions and uncertainties that could cause
actual results to differ materially from those expressed in them.
Any forward-looking statements are qualified in their entirety by
reference to the factors discussed throughout this
prospectus.
You
should read this prospectus and the documents that we reference
herein and therein and have filed as exhibits to the registration
statement, of which this prospectus is part, completely and with
the understanding that our actual future results may be materially
different from what we expect. You should assume that the
information appearing in this prospectus is accurate as of the date
on the front cover of this prospectus or such prospectus supplement
only. Because the risk factors referred to above, as well as the
risk factors incorporated herein by reference, could cause actual
results or outcomes to differ materially from those expressed in
any forward-looking statements made by us or on our behalf, you
should not place undue reliance on any forward-looking statements.
Further, any forward-looking statement speaks only as of the date
on which it is made, and we undertake no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events, except as may be required under
applicable law. New factors emerge from time to time, and it is not
possible for us to predict which factors will arise. In addition,
we cannot assess the impact of each factor on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. We qualify all of the information
presented in this prospectus and particularly our forward-looking
statements, by these cautionary statements.
ABOUT NEW AGE BEVERAGES CORPORATION
Business Overview
We are a Colorado and Utah-based healthy beverages
and lifestyles company engaged in the development and
commercialization of a portfolio of organic, natural and other
better-for-you healthy beverages, liquid dietary supplements, and
other healthy lifestyle products. We compete in the growth segments
of the beverage industry as a leading one-stop shop supplier for
major retailers and distributors. We also are one of few
competitors that commercializes its business across multiple
channels including traditional retail, e-commerce, direct to
consumer, and the medical channel. We market a full portfolio of
Ready-to-Drink (“RTD”) better-for-you beverages
including competitive offerings in the kombucha, tea, coffee,
functional waters, relaxation drinks, energy drinks, rehydrating
beverages, and functional medical beverage segments. We also offer
liquid dietary supplement products, including Tahitian Noni®
Juice, through a direct-to-consumer model using independent
distributors called independent product consultants
(“IPCs”). We differentiate our brands through
functional performance characteristics and ingredients and offer
products that are 100% organic and natural, with no high-fructose
corn syrup (“HFCS”), no genetically modified organisms
(“GMOs”), no preservatives, and only natural flavors,
fruits, and ingredients. We rank as one of largest healthy beverage
companies in the world as well as one of the fastest growing
beverage companies according to Beverage Industry
magazine annual rankings and
Markets and
Markets. Our goal is to become
the world’s leading healthy beverage company, with leading
brands for consumers, leading growth for retailers and
distributors, and leading return on investment for shareholders.
Our target market is health conscious consumers, who are becoming
more interested and better educated on what is included in their
diets, causing them to shift away from less healthy options such as
carbonated soft drinks or other high caloric beverages and towards
alternative beverage choices. We believe consumer awareness of the
benefits of healthier lifestyles and the availability of heathier
beverages is rapidly accelerating worldwide, and we are
capitalizing on that shift.
Corporate Information
The
Company was formed under the laws of the State of Washington on
April 26, 2010, under the name American Brewing Company, Inc.
(“American Brewing”).
On
April 1, 2015, American Brewing acquired the assets of B&R
Liquid Adventure, which included the brand,
Búcha® Live Kombucha. Prior to acquiring the
Búcha® Live Kombucha brand and business, we were a
craft brewery operation. In April 2016, new management assumed
daily operation of the business, and began the implementation of a
new vision for the Company. In May 2016 we changed our name to
Búcha, Inc. (“Búcha”), and then on
June 30, 2016, we acquired the combined assets of
“Xing” including Xing Beverage, LLC, New Age Beverages,
LLC, Aspen Pure, LLC, and New Age Properties. We then shut down all
California operations where Búcha was based, relocated the
Company’s operational headquarters to Denver, Colorado and
changed our name to New Age Beverages Corporation.
In
October 2015, we sold American Brewing, including their brewery and
related assets, to focus exclusively on healthy beverages. In
February 2017, we uplisted onto The NASDAQ Capital Market. In March
2017, we acquired the assets of Maverick Brands, including their
brand Coco-Libre. In June 2017, we acquired the assets of Premier
Micronutrient Corporation (“PMC”), and also completed
the acquisition of Marley Beverage Company (“Marley”)
including the brand licensing rights to all Marley brand ready to
drink beverages.
On
December 21, 2018, we completed a business combination with
Morinda, whereby Morinda became a wholly-owned subsidiary of the
Company. Morinda is a Utah-based healthy lifestyles and
beverage company founded in 1996 with operations in more than 60
countries around the world, and manufacturing operations in Tahiti,
the U.S., China, Japan, and Germany. Morinda was the first company
to produce and sell products derived from the noni plant, an
antioxidant-rich, natural resource found in French Polynesia that
we believe sustains the well-being of those who consume or use it.
Morinda is primarily a direct-to-consumer and e-commerce business
and works with over 300,000 independent contractor IPCs worldwide.
More than 70% of its business is generated in the key Asia Pacific
markets of Japan, China, Korea, Taiwan, and Indonesia. The
combination with Morinda provides a portfolio of healthy beverages,
with multi-channel penetration spanning traditional retail,
e-commerce, and in-home, and hybrid route-to-market spanning
direct-store-delivery (DSD), wholesale, and
direct-to-consumer.
We
currently have four wholly-owned subsidiaries: NABC, Inc., NABC
Properties, LLC (NABC Properties”), New Age Health Sciences,
and Morinda. NABC, Inc. is our Colorado-based operating company
that consolidates performance and financial results of our
divisions. NABC Properties administers the New Age buildings,
physical properties, and warehouses. New Age Health Sciences
includes all of our patents and the operating performance for the
medical and hospital channels. Utah-based Morinda provides us an
additional direct-to-consumer sales channel and access to key
international markets.
Our
principal executive offices are located at 1700 E. 68th Avenue, Denver, CO
80229, and our phone number is (303)-289-8655. Our corporate
website address is www.newagebev.us. The information contained on,
connected to or that can be accessed via our website is not part of
this prospectus. We have included our website address in this
prospectus as an inactive textual reference only and not as an
active hyperlink.
Principal Products
Our
core business is to develop, market, sell, and distribute healthy
liquid dietary supplements and ready-to-drink beverages. The
beverage industry comprises over $1 trillion in annual revenue
according to Euromonitor and Booz & Company and is highly
competitive with three to four major multibillion-dollar
multinationals that dominate the sector. We compete by
differentiating our brands as healthier and better-for-you
alternatives that are natural, organic, and/or have no artificial
ingredients or sweeteners. Our brands include Tahitian Noni Juice,
TruAge, Xing Tea, Aspen Pure®, Marley, Búcha® Live
Kombucha, PediaAde, Coco Libre, BioShield, and ‘NHANCED
Recovery, all competing in the existing growth and newly emerging
dynamic growth segments of the beverage industry. Morinda also has
several additional consumer product offerings, including a TeMana
line of skin care and lip products, a Noni + Collagen ingestible
skin care product, wellness supplements, and a line of essential
oils.
Tahitian Noni Juice and MAX
Tahitian
Noni Juice® (TNJ) is the original superfruit liquid
dietary supplement. Sourced from the noni fruit grown in French
Polynesia, we believe TNJ supports the immune system, delivers
superior antioxidants, helps rid the body of harmful free radicals,
increases energy, supports heart health, and allows for greater
physical performance levels. Ancient tradition and modern research
both support the benefits of noni.
With
Tahitian Noni Juice, Morinda brought the attention of the world to
Tahiti and French Polynesia. Within just a few years, Morinda made
noni French Polynesia’s No. 1 agricultural
export. Morinda oversees every step in the process, from tree
to bottle, ensuring the highest quality.
TruAge® MAX is a powerful noni-based liquid dietary
supplement, containing more than 350 essential nutrients and
phytonutrients from the world’s premier health-promoting
plants. Some ingredients in Max include noni, Cornelian cherry,
grape, blueberry, red sour cherry, olive and cranberry. These
ingredients work in harmony with the body’s natural
chemistry, helping balance key chemicals that support the healthy
functioning of the body's systems.
The
Company is currently developing Noni +
cannabinoids (“CBD”) products with the intent to
launch domestically and internationally in 2019, consistent
with evolving laws and regulations relating to CBD. The
Company’s vision is to be a global leader in high-quality,
research-driven CBD products across all categories. New
product lines will include CBD topicals, Noni + CBD single-use
shots, TNJ + CBD, Max + CBD, and our TeMana skin care line infused
with CBD.
Búcha Live Kombucha
Búcha® Live
Kombucha (“Búcha”) is a USDA-certified organic,
natural, non-GMO, non-HFCS, fermented Kombucha tea with more than
two billion colony forming units (“CFUs”) at batching.
Búcha is produced with a unique and proprietary manufacturing
process that eliminates the common vinegary aftertaste associated
with many other Kombuchas and gives the product a 12-month shelf
life as compared to the typical 90-day shelf life of our
competitors’ products. The production process makes
Búcha one of the world’s first shelf-stable (no
refrigeration needed) kombuchas without compromising efficacy, and
leads to consistency and stability with no risk of secondary
fermentation, secondary alcohol production, incremental sugar
production or over-carbonation.
Marley
New
Age owns the licensing rights in perpetuity to the Marley Brand of
RTD beverages and provides an annual licensing fee as a percent of
sales to the Marley estate. New Age’s Marley portfolio
extends across the CBD, yerba mate, relaxation tea, and RTD coffee
segments. The Bob Marley brand itself is a globally relevant
healthy lifestyle brand with an elite social media presence, with
more than 72 million Facebook followers and loyal Marley fans. In
2019, New Age announced its plans to commercialize a line of RTD
CBD-infused beverages in the U.S and international markets,
consistent with evolving legal and regulatory restrictions. We are
poised, positioned, and determined to be the leader in the
CBD-infused beverages market. New Age plans to create a full
portfolio of CBD beverages under the Marley brand, beginning with
the initial rollout of Mellow Mood + CBD and a Marley CBD Shot. In
January 2019, New Age entered into license agreement with Docklight
LLC to facilitate the U.S. distribution of these Marley CBD-infused
beverages.
Marley Mate® is
a caffeinated RTD tea, serving as a clean energy alternative to
coffee or traditional energy drinks, with the same uplifting
benefits, but without any crash or negative stigma associated with
energy drinks. Marley Mate is USDA-certified organic, clean label,
and is among the lowest sugar, calories, and carbohydrates of any
RTD yerba mate in the market. Quickly becoming a national brand in
the new and growing category, it has enjoyed excellent early
success in its initial markets since launch, outselling major
competitors in each of its initial launch
markets.
Marley
Cold Brew Coffee®
is a healthier alternative to other cold brew brands, with 50%
lower sugar than most brands in the segment, and fewer calories
than other major Cold Brew. Brewed with authentic Jamaican Coffee,
the Marley Cold Brew blend has a preferred flavor profile with low
acidity and no bitterness. Created with an 18-month shelf life and
requiring no refrigeration, Marley Cold Brew is developing a strong
presence in ambient beverage sections, in dedicated off-the-shelf
elegant wood displays, as well as in refrigerated sets. Marley also
offers One Drop, an RTD Frappuccino made with Premium
Jamaican Blue Mountain Coffee, and unlike competitive RTD coffees,
contains no artificial ingredients, no HFCS, no preservatives, and
no GMO’s.
Marley Mellow Mood® is
a RTD relaxation drink, which, as aforementioned, will include a
line extension of CBD-infused teas. Marley Mellow Mood is made with
Valerian Root, Chamomile, and other natural herbs and ingredients
and, unlike competitive RTD Teas, is all natural, has no HFCS, no
preservatives, no GMO’s, and is kosher certified. The brand
comes in 15.5 oz. cans in five flavors including Peach Raspberry,
Bartlett Pear, Raspberry Lemonade, and Honey Green Tea. Marley is
the leading relaxation drink, which is a developing sub-segment of
the RTD category.
Xing
XingTea® is
an all-natural, non-GMO, non-HFCS, and award winning,
ready-to-drink tea. Xing is made with brewed green and black teas,
and is further differentiated with unique natural fruit flavors,
with no preservatives, GMOs or HFCS. The product is sweetened with
only honey and pure cane sugar.
Xing Craft Brew Collection Tea® is
an organic, premium-brewed line of artisanal teas sold in 16 oz.
glass bottles with no added sugar and no artificial flavors. Unlike
competitors that have more than 21 grams of added sugar, Xing Craft
has no added sugar, and is an artisanal brewed tea made with single
origin grown tea blends.
Coco Libre
Coco Libre® is
a 100% pure coconut water (also available with watermelon juice
infused), bottled at the source from young Vietnamese coastal
coconuts. Historically a leading brand in the coconut water
segment, Coco Libre is distributed in more than 15,000 outlets
throughout the United States and Canada. Coco
Libre® is
offered in 1-liter and 330mL packages. Additionally, New Age
launched Coco Libre Sparkling® in
2018, sparkling coconut water with 30-40 calories and zero added
sugar. We believe that the differentiator of Coco
Libre® is
a light and crisp profile, infused with green tea extract and 100%
pure exotic fruit juices.
TeMana Skin and Lip Care
Consistent
with its line of healthy beverage products, and drawing on its vast
noni expertise, Morinda developed and launched a line of high-end,
noni-based skin and lip care products sold under the TeMana
brand.
TeMana
Brightening skin care products capture the essence of Tahiti,
taking advantage of what we believe are four unique and beneficial
elements of the noni plant: noni seed oil, noni leaf extract, noni
seed extract, and noni fruit juice. The Brightening line includes
Brightening Serum, Toner, Facial Shield, Moisturizer, Cleanser,
Facial Refiner, Body Refiner, Facial Mask, Night Cream, and Eye
Cream.
RTD TeMana Noni + Collagen is an
ingestible skincare product. Noni + Collagen promotes firmer,
smoother, more radiant skin. It's the only collagen product
featuring noni, and also features fish collagen instead of collagen
derived from other animal sources.
Developed
in concert with the Italian cosmetics experts at B.Kolor, TeMana's
lip care products help skin feel healthy and full.
Each
of our Tahitian Noni Essential Oil blends combines purposeful,
natural, therapy-grade essential oils with pure noni seed oil.
Blends include Peppermint, Embrace, Lavender, Relief, Trim,
Fortify, Breathe, Repel, Energize, and Relax.
New Age Health Sciences Division
Our
Health Sciences Division owns 11 patents, on which significant
cooperative research studies with human and animal trials have been
completed, making New Age a beverage company with substantive
intellectual property. The patents and human need-states that are
addressed by the patent portfolio were all developed in partnership
with and funded by the U.S. government, who invested more than $30
million behind them. Our intention is to convert the patents into
products, with direct functionality in protection, treatment, or
improvement of different consumer need-states.
We
will pursue four main areas of focus where we believe we have the
most robust science and patent protection for the commercialization
of products including Rehydration/Recovery, Radiation protection,
Neural Protection/Improvement, and Cardiovascular health. We also
intend to either license or outsource any patent we do not intend
to commercialize. The Company believes that the intellectual
property portfolio is of substantial value to either pharmaceutical
or beverage companies, given the quality and uniqueness of the
patents, and the science and evidence on the efficacy of the
technologies.
‘NHANCED
‘NHANCED
is our first product that was developed by the medical and
scientific team at New Age Health Sciences. ‘NHANCED delivers
a first of its kind product, designed to be consumed the night
before surgery to improve patient outcomes after surgery. It is a
natural, clear complex carbohydrate beverage for patient use in
accordance with hospital systems adopting enhanced recovery after
surgery (“ERAS”) protocols. The product is coconut
water based and includes key vitamins and mineral co-factors for
immune support. It provides antioxidants, amino acids, and
phytonutrients for improved metabolic function.
‘NHANCED was designed to facilitate recovery
after surgery with less inflammatory response, less nausea, reduced
gastric stress, increased GI motility, less insulin resistance,
improved wound healing and immune function, and overall improved
patient satisfaction. Initial patient testing has validated the
benefits. Two bottles taken the evening before surgery, and
one bottle up to three hours prior to surgery provide benefit to
the patient. This is an advancement from the previous paradigm of
nothing by mouth prior to surgery starting the evening before
surgery.
Bio-Shield
“Bio-Shield”
is the current working brand name for our radiation and
environmental protection product. We own the patents to what we
believe is the only product in the world proven to protect the body
from the effects of ionizing radiation and have the trials and
research studies validating the efficacy of our product. Ionizing
radiation, which comes from a number of sources, including near
proximity to sun, nuclear facilities, medical X-rays or scans,
affects the body by breaking the double-strands of DNA inside the
body. New Age’s product has proven to protect double-strand
DNA from breaking due to the impact of radiation.
“Bio-Shield” will be launched in Asia Pacific during
the first half of 2019, and thereafter we expect to launch the
product into the U.S. and other markets and channels including both
the travel and medical channels by the fourth quarter of
2019.
RISK FACTORS
Before
making an investment decision, you should carefully consider the
risks uncertainties and other factors described in our most recent
Annual Report on Form 10-K, as well as the risks, uncertainties and
additional information set forth in our SEC reports on Forms 10-K,
10-Q and 8-K and in other documents incorporated by reference in
this prospectus as updated by our subsequent filings under the
Securities Exchange Act of 1934, as amended, or the Exchange
Act.
Our
business, financial condition or results of operations could be
materially adversely affected by any of these risks, and you may
lose all or part of your investment.
USE OF PROCEEDS
Unless
otherwise indicated in a prospectus supplement, we intend to use
the net proceeds from the sale of the securities under this
prospectus for general corporate purposes, including and for
general working capital purposes. We may also use a portion of the
net proceeds to acquire or invest in businesses and products that
are complementary to our own, although we have no current plans,
commitments or agreements with respect to any acquisitions as of
the date of this prospectus.
DESCRIPTION OF COMMON STOCK
General
We are
authorized to issue up to 100,000,000 shares of common stock, par
value $0.001 per share. The holders of our common stock (i) have
equal ratable rights to dividends from funds legally available
therefore, when, as and if declared by our board of directors; (ii)
are entitled to share in all of its assets available for
distribution to holders of common stock upon liquidation,
dissolution or winding up of its affairs; (iii) do not have
preemptive, subscription or conversion rights and there are no
redemption or sinking fund provisions or rights; and (iv) are
entitled to one non-cumulative vote per share on all matters on
which stockholders may vote.
As of
April 4, 2019, there were 75,357,742 shares of common stock issued and
outstanding.
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is
ClearTrust, LLC located in Lutz, Fl.
Listing
Our
common stock is currently traded on the NASDAQ Capital Market under
the symbol “NBEV.”
DESCRIPTION OF PREFERRED STOCK
We are
authorized to issue up to 1,000,000 shares of preferred stock, par
value $0.001 per share, of which 250,000 are designated as Series A
Preferred Stock, 300,000 are designated as Series B Preferred
Stock, 7,000 are designated as Series C Convertible Preferred
Stock, 44,000 are designated as Series D Convertible Preferred
Stock. As of April 4, 2019, there were 0 shares of Series A
Preferred Stock, 0 shares of Series B Preferred Stock, 0 shares of
Series C Convertible Preferred Stock and 43,804 shares of Series D
Convertible Preferred Stock issued and outstanding.
Series D Convertible Preferred Stock
The
holders of Series D Convertible Preferred Stock are entitled to
receive a dividend of up to an aggregate of Fifteen Million Dollars
($15,000,000) (the “Milestone Dividend”) if the
Adjusted EBITDA (as defined in the governing certificate) of
Morinda Holdings, Inc. is at least Twenty Million Dollars
($20,000,000) for the year ended December 31, 2019. The Milestone
Dividend is payable on April 15, 2020. If the Adjusted EBITDA of
the Morinda Holdings, Inc. is less than Twenty Million Dollars
($20,000,000), the Milestone Dividend shall be adjusted based on
applying a five times multiple to the difference between the
Adjusted EBITDA of $20 million and actual Adjusted EBITDA for the
year ended December 31, 2019 and adjusting accordingly to the $15
million Milestone Dividend. Additionally, the Company is required
to pay an annual dividend to the holders of the Preferred Stock
equal to an aggregate of 1.5% of the Milestone Dividend amount,
payable on a pro rata basis. The Company may pay the Milestone
Dividend and /or the annual dividend in cash or in kind, provided
that if the Company chooses to pay in kind, the shares of common
stock issued as payment therefore must be registered under the
Securities Act. The Preferred Stock shall terminate on April 15,
2020, the payment date of the Milestone Dividend.
Holders
of Series D Convertible Preferred Stock are not entitled to vote
unless required by the laws of the state of
Washington.
Our
Articles of Incorporation, as amended, authorizes our board of
directors to issue shares of preferred stock in one or more series
and fix the rights, preferences and privileges thereof, including
voting rights, terms of redemption, redemption prices, liquidation
preferences, number of shares constituting any series or the
designation of such series, without further vote or action by the
stockholders.
Preferred stock is
available for possible future financings or acquisitions and for
general corporate purposes without further authorization of
stockholders unless such authorization is required by applicable
law, the rules of the NASDAQ Capital Market or other securities
exchange or market on which our stock is then listed or admitted to
trading.
Our
board of directors may authorize the issuance of preferred stock
with voting or conversion rights that could adversely affect the
voting power or other rights of the holders of common stock. The
issuance of preferred stock, while providing flexibility in
connection with possible acquisitions and other corporate purposes
could, under some circumstances, have the effect of delaying,
deferring or preventing a change in control of the
Company.
A
prospectus supplement relating to any series of preferred stock
being offered will include specific terms relating to the offering.
Such prospectus supplement will include:
●
the title and
stated or par value of the preferred stock;
●
the number of
shares of the preferred stock offered, the liquidation preference
per share and the offering price of the preferred
stock;
●
the dividend
rate(s), period(s) and/or payment date(s) or method(s) of
calculation thereof applicable to the preferred stock;
●
whether dividends
shall be cumulative or non-cumulative and, if cumulative, the date
from which dividends on the preferred stock shall
accumulate;
●
the provisions for
a sinking fund, if any, for the preferred stock;
●
any voting rights
of the preferred stock;
●
the provisions for
redemption, if applicable, of the preferred stock;
●
any listing of the
preferred stock on any securities exchange;
●
the terms and
conditions, if applicable, upon which the preferred stock will be
convertible into our common stock, including the conversion price
or the manner of calculating the conversion price and conversion
period;
●
if appropriate, a
discussion of Federal income tax consequences applicable to the
preferred stock;
●
any other specific
terms, preferences, rights, limitations or restrictions of the
preferred stock.
The
terms, if any, on which the preferred stock may be convertible into
or exchangeable for our common stock will also be stated in the
preferred stock prospectus supplement. The terms will include
provisions as to whether conversion or exchange is mandatory, at
the option of the holder or at our option, and may include
provisions pursuant to which the number of shares of our common
stock to be received by the holders of preferred stock would be
subject to adjustment.
DESCRIPTION OF WARRANTS
We may
issue warrants for the purchase of preferred stock or common stock.
Warrants may be issued independently or together with any preferred
stock or common stock, and may be attached to or separate from any
offered securities. Each series of warrants will be issued under a
separate warrant agreement to be entered into between a warrant
agent specified in the agreement and us. The warrant agent will act
solely as our agent in connection with the warrants of that series
and will not assume any obligation or relationship of agency or
trust for or with any holders or beneficial owners of warrants.
This summary of some provisions of the securities warrants which we
may issue is not complete. You should refer to the securities
warrant agreement, including the forms of securities warrant
certificate representing the securities warrants, relating to the
specific securities warrants offered for the complete terms of the
securities warrant agreement and the securities warrants. The
securities warrant agreement, together with the terms of the
securities warrant certificate and securities warrants, will be
filed with the SEC in connection with the offering of the specific
warrants.
The applicable
prospectus supplement will describe the following terms, where
applicable, of the warrants in respect of which this prospectus is
being delivered:
●
the title of the
warrants;
●
the aggregate
number of the warrants;
●
the price or prices
at which the warrants will be issued;
●
the designation,
amount and terms of the offered securities purchasable upon
exercise of the warrants;
●
if applicable, the
date on and after which the warrants and the offered securities
purchasable upon exercise of the warrants will be separately
transferable;
●
the terms of the
securities purchasable upon exercise of such warrants and the
procedures and conditions relating to the exercise of such
warrants;
●
any provisions for
adjustment of the number or amount of securities receivable upon
exercise of the warrants or the exercise price of the
warrants;
●
the price or prices
at which and currency or currencies in which the offered securities
purchasable upon exercise of the warrants may be
purchased;
●
the date on which
the right to exercise the warrants shall commence and the date on
which the right shall expire;
●
the minimum or
maximum amount of the warrants that may be exercised at any one
time;
●
information with
respect to book-entry procedures, if any;
●
if appropriate, a
discussion of Federal income tax consequences; and
●
any other material
terms of the warrants, including terms, procedures and limitations
relating to the exchange and exercise of the warrants.
Warrants for the
purchase of common stock or preferred stock will be offered and
exercisable for U.S. dollars only. Warrants will be issued in
registered form only.
Upon
receipt of payment and the warrant certificate properly completed
and duly executed at the corporate trust office of the warrant
agent or any other office indicated in the applicable prospectus
supplement, we will, as soon as practicable, forward the purchased
securities. If less than all of the warrants represented by the
warrant certificate are exercised, a new warrant certificate will
be issued for the remaining warrants.
Prior
to the exercise of any securities warrants to purchase preferred
stock or common stock, holders of the warrants will not have any of
the rights of holders of the common stock or preferred stock
purchasable upon exercise, including in the case of securities
warrants for the purchase of common stock or preferred stock, the
right to vote or to receive any payments of dividends on the
preferred stock or common stock purchasable upon
exercise.
DESCRIPTION OF UNITS
As
specified in the applicable prospectus supplement, we may issue
units consisting of shares of common stock, shares of preferred
stock or warrants or any combination of such
securities.
The
applicable prospectus supplement will specify the following terms
of any units in respect of which this prospectus is being
delivered:
●
the terms of the
units and of any of the common stock, preferred stock and warrants
comprising the units, including whether and under what
circumstances the securities comprising the units may be traded
separately;
●
a description of
the terms of any unit agreement governing the units;
and
●
a description of
the provisions for the payment, settlement, transfer or exchange of
the units.
PLAN OF DISTRIBUTION
We may
sell the securities offered through this prospectus (i) to or
through underwriters or dealers, (ii) directly to purchasers,
including our affiliates, (iii) through agents, or (iv) through a
combination of any these methods. The securities may be distributed
at a fixed price or prices, which may be changed, market prices
prevailing at the time of sale, prices related to the prevailing
market prices, or negotiated prices. The prospectus supplement will
include the following information:
●
the terms of the
offering;
●
the names of any
underwriters or agents;
●
the name or names
of any managing underwriter or underwriters;
●
the purchase price
of the securities;
●
any over-allotment
options under which underwriters may purchase additional securities
from us;
●
the net proceeds
from the sale of the securities
●
any delayed
delivery arrangements
●
any underwriting
discounts, commissions and other items constituting
underwriters’ compensation;
●
any initial public
offering price;
●
any discounts or
concessions allowed or reallowed or paid to dealers;
●
any commissions
paid to agents; and
●
any securities
exchange or market on which the securities may be
listed.
Sale Through Underwriters or Dealers
Only
underwriters named in the prospectus supplement are underwriters of
the securities offered by the prospectus supplement.
If
underwriters are used in the sale, the underwriters will acquire
the securities for their own account, including through
underwriting, purchase, security lending or repurchase agreements
with us. The underwriters may resell the securities from time to
time in one or more transactions, including negotiated
transactions. Underwriters may sell the securities in order to
facilitate transactions in any of our other securities (described
in this prospectus or otherwise), including other public or private
transactions and short sales. Underwriters may offer securities to
the public either through underwriting syndicates represented by
one or more managing underwriters or directly by one or more firms
acting as underwriters. Unless otherwise indicated in the
prospectus supplement, the obligations of the underwriters to
purchase the securities will be subject to certain conditions, and
the underwriters will be obligated to purchase all the offered
securities if they purchase any of them. The underwriters may
change from time to time any initial public offering price and any
discounts or concessions allowed or reallowed or paid to
dealers.
If
dealers are used in the sale of securities offered through this
prospectus, we will sell the securities to them as principals. They
may then resell those securities to the public at varying prices
determined by the dealers at the time of resale. The prospectus
supplement will include the names of the dealers and the terms of
the transaction.
Direct Sales and Sales Through Agents
We may
sell the securities offered through this prospectus directly. In
this case, no underwriters or agents would be involved. Such
securities may also be sold through agents designated from time to
time. The prospectus supplement will name any agent involved in the
offer or sale of the offered securities and will describe any
commissions payable to the agent. Unless otherwise indicated in the
prospectus supplement, any agent will agree to use its reasonable
best efforts to solicit purchases for the period of its
appointment.
We may
sell the securities directly to institutional investors or others
who may be deemed to be underwriters within the meaning of the
Securities Act with respect to any sale of those securities. The
terms of any such sales will be described in the prospectus
supplement.
Delayed Delivery Contracts
If the
prospectus supplement indicates, we may authorize agents,
underwriters or dealers to solicit offers from certain types of
institutions to purchase securities at the public offering price
under delayed delivery contracts. These contracts would provide for
payment and delivery on a specified date in the future. The
contracts would be subject only to those conditions described in
the prospectus supplement. The applicable prospectus supplement
will describe the commission payable for solicitation of those
contracts.
Continuous
Offering Program
Without
limiting the generality of the foregoing, we may enter into a
continuous offering program equity distribution agreement with a
broker-dealer, under which we may offer and sell shares of our
common stock from time to time through a broker-dealer as our sales
agent. If we enter into such a program, sales of the shares of
common stock, if any, will be made by means of ordinary
brokers’ transactions on the NASDAQ Capital Market at market
prices, block transactions and such other transactions as agreed
upon by us and the broker-dealer. Under the terms of such a
program, we also may sell shares of common stock to the
broker-dealer, as principal for its own account at a price agreed
upon at the time of sale. If we sell shares of common stock to such
broker-dealer as principal, we will enter into a separate terms
agreement with such broker-dealer, and we will describe this
agreement in a separate prospectus supplement or pricing
supplement.
Market Making, Stabilization and Other Transactions
Unless
the applicable prospectus supplement states otherwise, other than
our common stock all securities we offer under this prospectus will
be a new issue and will have no established trading market. We may
elect to list offered securities on an exchange or in the
over-the-counter market. Any underwriters that we use in the sale
of offered securities may make a market in such securities, but may
discontinue such market making at any time without notice.
Therefore, we cannot assure you that the securities will have a
liquid trading market.
Any
underwriter may also engage in stabilizing transactions, syndicate
covering transactions and penalty bids in accordance with Rule 104
under the Exchange Act. Stabilizing transactions involve bids to
purchase the underlying security in the open market for the purpose
of pegging, fixing or maintaining the price of the securities.
Syndicate covering transactions involve purchases of the securities
in the open market after the distribution has been completed in
order to cover syndicate short positions.
Penalty
bids permit the underwriters to reclaim a selling concession from a
syndicate member when the securities originally sold by the
syndicate member are purchased in a syndicate covering transaction
to cover syndicate short positions. Stabilizing transactions,
syndicate covering transactions and penalty bids may cause the
price of the securities to be higher than it would be in the
absence of the transactions. The underwriters may, if they commence
these transactions, discontinue them at any time.
General Information
Agents,
underwriters, and dealers may be entitled, under agreements entered
into with us, to indemnification by us against certain liabilities,
including liabilities under the Securities Act. Our agents,
underwriters, and dealers, or their affiliates, may be customers
of, engage in transactions with or perform services for us, in the
ordinary course of business.
LEGAL MATTERS
The
validity of the issuance of the securities offered by this
prospectus will be passed upon for us by Sichenzia Ross Ference
LLP, New York, New York.
EXPERTS
The consolidated balance sheets of New
Age Beverages Corporation and its subsidiaries as of December 31,
2018 and 2017 and the related consolidated statements of operations
and comprehensive loss, stockholders’ equity, and cash flows
for the years then ended, appearing in New Age Beverages
Corporation’s Annual Report on Form 10-K, for the years ended
December 31, 2018 and 2017 have been audited by Accell Audit
& Compliance, P.A.,
independent registered public accounting firm, as stated in their
report thereon, included therein, and incorporated by reference
herein.
The consolidated financial statements of Morinda Holdings, Inc. and
Subsidiaries as of and for the years ended December 31, 2017 and
2016, incorporated in this Prospectus by reference from the Current
Report on Form 8-K/A of New Age Beverages Corporation dated March
1, 2019, have been audited by Deloitte & Touche LLP,
independent auditors, as stated in their report incorporated by
reference herein, and are included in reliance upon the report of
such firm given upon their authority as experts in accounting and
auditing.
Such financial statements have been incorporated herein in reliance
on the report of each such firm given upon their authority as
experts in accounting and auditing.
WHERE YOU CAN FIND MORE INFORMATION
We file
annual, quarterly and special reports, along with other information
with the SEC. Our SEC filings are available to the public over the
Internet at the SEC’s website at http://www.sec.gov. You may
also read and copy any document we file at the SEC’s Public
Reference Room at 100 F Street, NE, Washington, D.C. 20549. Please
call the SEC at 1-800-SEC-0330 for further information on the
Public Reference Room.
This
prospectus is part of a registration statement on Form S-3 that we
filed with the SEC to register the securities offered hereby under
the Securities Act of 1933, as amended. This prospectus does not
contain all of the information included in the registration
statement, including certain exhibits and schedules. You may obtain
the registration statement and exhibits to the registration
statement from the SEC at the address listed above or from the
SEC’s internet site.
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
This
prospectus is part of a registration statement filed with the SEC.
The SEC allows us to “incorporate by reference” into
this prospectus the information that we file with them, which means
that we can disclose important information to you by referring you
to those documents. The information incorporated by reference is
considered to be part of this prospectus, and information that we
file later with the SEC will automatically update and supersede
this information. The following documents are incorporated by
reference and made a part of this prospectus:
●
our Annual Report
on Form 10-K for the year ended December 31, 2018 filed with the
SEC on April 1, 2019;
●
Our
Current Reports on Form 8-K filed with the SEC on January 17, 2019,
February 25, 2019, April 2, 2019 and our amended Current Report on
Form 8-K/A filed March 1, 2019;
●
Our proxy statement
on Schedule 14A filed with the SEC on April 5, 2019;
●
the description of
our common stock contained in the our amended Registration
Statement on Form 8-A filed with the SEC on February 13, 2017 (File
No. 001-38014), including any amendment or report filed for the
purpose of updating such description; and
●
all reports and
other documents subsequently filed by us pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of
this prospectus and prior to the termination of this
offering.
We
also incorporate by reference into this prospectus all documents
filed by us with the SEC pursuant to Sections 12(a), 13(c), 14 or
15(d) of the Exchange Act prior to the termination of any offering
of securities made by this prospectus. Nothing in this prospectus
shall be deemed to incorporate information furnished but not filed
with the SEC (including without limitation, information furnished
under Item 2.02 or Item 7.01 of Form 8-K, and any exhibits relating
to such information).
Any
statement contained in this prospectus or in a document
incorporated or deemed to be incorporated by reference in this
prospectus shall be deemed to be modified or superseded for
purposes of this prospectus to the extent that a statement
contained herein or in the applicable prospectus supplement or in
any other subsequently filed document which also is or is deemed to
be incorporated by reference modifies or supersedes the statement.
Any statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this
prospectus.
The
information about us contained in this prospectus should be read
together with the information in the documents incorporated by
reference. You may request a copy of any or all of these filings,
at no cost, by writing or telephoning us at: 1700 E. 68th Avenue, Denver,
Colorado 80229, phone number (303) 289-8655.
$200,000,000
Common Stock
Preferred Stock
Warrants
Units
New Age Beverages Corporation
Prospectus
,
2019
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution.
The
following table sets forth the costs and expenses payable by the
Registrant in connection with this offering, other than
underwriting commissions and discounts, all of which are estimated
except for the Securities and Exchange Commission (the
“SEC”) registration fee.
Item
|
|
SEC registration
fee
|
$24,240
|
Printing and
engraving expenses
|
5,000
|
Legal fees and
expenses
|
25,000
|
Accounting fees and
expenses
|
10,000
|
Transfer agent and
registrar’s fees and expenses
|
5,000
|
Miscellaneous
expenses
|
5,000
|
Total
|
$74,240
|
Item 15. Indemnification of Directors and Officers.
Pursuant to the
Revised Code of Washington Section 23B.08.320, the articles of
incorporation may contain provisions not inconsistent with law that
eliminate or limit the personal liability of a director to the
corporation or its shareholders for monetary damages for conduct as
a director, provided that such provisions shall not eliminate or
limit the liability of a director for acts or omissions that
involve intentional misconduct by a director or a knowing violation
of law by a director, for conduct violating RCW 23B.08.310, or for
any transaction from which the director will personally receive a
benefit in money, property, or services to which the director is
not legally entitled. No such provision shall eliminate or limit
the liability of a director for any act or omission occurring prior
to the date when such provision becomes effective. Pursuant to our
Articles of Incorporation, as allowed by the Revised Code of
Washington, we have chosen to limit the personal liability of a
director to the corporation or our shareholders for monetary
damages for conduct as a director, except for acts or omissions
that involve intentional misconduct by the director or a knowing
violation of law by the directors, for conduct violating RCW
23B.08.310, or for any transaction from which the director will
personally receive a benefit in money, property or services to
which the director is not legally entitled.
In
addition to the above, pursuant to the Revised Code of Washington,
Section 23B.08.520, we shall be required to indemnify a director
who was wholly successful, on the merits or otherwise, in the
defense of any proceeding to which the director was a party because
of being a director of the corporation against reasonable expenses
incurred by the director in connection with the
proceeding.
Pursuant to the
Revised Code of Washington Section 23B0.570, (1) An officer of the
corporation who is not a director is entitled to mandatory
indemnification under RCW 23B.08.520, and is entitled to apply for
court-ordered indemnification under RCW 23B.08.540, in each case to
the same extent as a director; (2) The corporation may indemnify
and advance expenses under RCW 23B.08.510 through 23B.08.560 to an
officer, employee, or agent of the corporation who is not a
director to the same extent as to a director; and (3) A corporation
may also indemnify and advance expenses to an officer, employee, or
agent who is not a director to the extent, consistent with law,
that may be provided by its articles of incorporation, bylaws,
general or specific action of its board of directors, or contract.
The Corporation has chosen to include the indemnification described
in the Revised Code of Washington, Section 23B.08.570 for its
officers, employees and agents as is stated in Article XIV of its
Amended Articles of Incorporation.
In the
event that a claim for indemnification against such liabilities
(other than the payment of expenses incurred or paid by a director,
officer or controlling person in the successful defense of any
action, suit or proceeding) is asserted by such director, officer,
or other control person in connection with the securities being
registered, we will, unless in the opinion of our legal counsel the
matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such
indemnification by it, is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of
such issue.
Item 16. Exhibits.
Exhibit Number
|
|
Description of Document
|
|
|
|
1.1
|
|
Form of
Underwriting Agreement.*
|
|
|
Articles of Incorporation of New Age Beverages Corporation
(incorporated by reference to Exhibit 3.1.1 of our Form S-1 filed
with the Securities and Exchange Commission on February 3,
2014)
|
|
|
Articles of Amendment to the Articles of Incorporation, dated
October 11, 2011 (incorporated by reference to Exhibit 3.1.2 of our
Form S-1 filed with the Securities and Exchange Commission on
February 3, 2014).
|
|
|
Articles of
Amendment to the Articles of Incorporation, dated June 25, 2013
(incorporated by reference to Exhibit 3.1.3 of our Form S-1 filed
with the Securities and Exchange Commission on February 3,
2014).
|
|
|
Amended Articles of Incorporation of New Age
Beverages Corporation (incorporated by reference to Exhibit 3.1.4
of our Form S-1 filed with the Securities and Exchange Commission
on February 3, 2014).
|
|
|
Articles of
Amendment to the Articles of Incorporation, dated April 20, 2015
(incorporated by reference to
Exhibit 3.5 of our annual report on Form 10-K filed with the
Securities and Exchange Commission on April 1,
2019).
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Articles of Amendment to the Articles of
Incorporation, dated May 3, 2016(incorporated by reference to
Exhibit 3.5 of our annual report on Form 10-K filed with the
Securities and Exchange Commission on April 1,
2019).
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Articles of Amendment to the Articles of
Incorporation, dated June 29, 2016 (incorporated by reference to
Exhibit 3.01 of our Form 8-K filed with the Securities and Exchange
Commission on August 5, 2016).
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Bylaws of New Age Beverages Corporation (incorporated by reference
to Exhibit 3.2.1 of our Form S-1 filed with the Securities and
Exchange Commission on February 3, 2014).
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Amended Bylaws of New Age Beverages Corporation (incorporated by
reference to Exhibit 3.2.2 of our Form S-1 filed with the
Securities and Exchange Commission on February 3,
2014).
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Amended Articles of Incorporation of New Age Beverages Corporation
(incorporated by reference to Exhibit 3.1 of our Form 8-K filed
with the Securities and Exchange Commission on September 24,
2018).
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Articles of Amendment to the Articles of Incorporation, dated
October 23, 2018 (incorporated by reference to Exhibit 3.01 our
Form 8-K Filed with the Securities and Exchange Commission on
October 24, 2018).
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Articles of
Amendment to Articles of Incorporation designating Series D
preferred stock (incorporated by reference to Exhibit 3.1 our Form
8-K filed with the Securities and Exchange Commission on December
27, 2018).
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4.1
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Form of
Certificate of Designation.*
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4.2
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Form of Preferred
Stock Certificate.*
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4.3
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Form of Warrant
Agreement.*
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4.4
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Form of Warrant
Certificate.*
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4.5
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Form of Stock
Purchase Agreement.*
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4.6
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Form of Unit
Agreement.*
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Opinion of
Sichenzia Ross Ference LLP
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Consent of Accell
Audit & Compliance, P.A.
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Consent of
Deloitte & Touche LLP
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23.3
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Consent of
Sichenzia Ross Ference LLP (contained in Exhibit
5.1).
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*
To be filed by
amendment or by a Current Report on Form 8-K and incorporated by
reference herein.
Item
17. Undertakings
(a) The
undersigned registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration
statement:
(i) To
include any prospectus required by section 10(a)(3) of the
Securities Act of 1933;
(ii) To
reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no more
than 20% change in the maximum aggregate offering price set forth
in the “Calculation of Registration Fee” table in the
effective registration statement.
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement
or any material change to such information in the registration
statement;
provided, however, Paragraphs (a)(1)(i), (a)(1)(ii) and
(a)(1)(iii) of this section do not apply if the registration
statement is on Form S-3 or Form F-3 and the information required
to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by
the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference
in the registration statement, or is contained in a form of
prospectus filed pursuant to Rule 424(b) that is part of the
registration statement.
(2)
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
(3) To
remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the
termination of the offering.
(4)
That, for the purpose of determining liability under the Securities
Act of 1933 to any purchaser:
(A)
Each prospectus filed by the registrant pursuant to Rule
424(b)(3)shall be deemed to be part of the registration statement
as of the date the filed prospectus was deemed part of and included
in the registration statement; and
(B)
Each prospectus required to be filed pursuant to Rule 424(b)(2),
(b)(5), or (b)(7) as part of a registration statement in reliance
on Rule 430B relating to an offering made pursuant to Rule
415(a)(1)(i), (vii), or (x) for the purpose of providing the
information required by section 10(a) of the Securities Act of 1933
shall be deemed to be part of and included in the registration
statement as of the earlier of the date such form of prospectus is
first used after effectiveness or the date of the first contract of
sale of securities in the offering described in the prospectus. As
provided in Rule 430B, for liability purposes of the issuer and any
person that is at that date an underwriter, such date shall be
deemed to be a new effective date of the registration statement
relating to the securities in the registration statement to which
that prospectus relates, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof. Provided, however, that no statement made in a
registration statement or prospectus that is part of the
registration statement or made in a document incorporated or deemed
incorporated by reference into the registration statement or
prospectus that is part of the registration statement will, as to a
purchaser with a time of contract of sale prior to such effective
date, supersede or modify any statement that was made in the
registration statement or prospectus that was part of the
registration statement or made in any such document immediately
prior to such effective date; or (5) That, for the purpose of
determining liability of the registrant under the Securities Act of
1933 to any purchaser in the initial distribution of the
securities, the undersigned registrant undertakes that in a primary
offering of securities of the undersigned registrant pursuant to
this registration statement, regardless of the underwriting method
used to sell the securities to the purchaser, if the securities are
offered or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities
to such purchaser:
(i) Any
preliminary prospectus or prospectus of the undersigned registrant
relating to the offering required to be filed pursuant to Rule
424;
(ii)
Any free writing prospectus relating to the offering prepared by or
on behalf of the undersigned registrant or used or referred to by
the undersigned registrant;
(iii)
The portion of any other free writing prospectus relating to the
offering containing material information about the undersigned
registrant or its securities provided by or on behalf of the
undersigned registrant; and
(iv)
Any other communication that is an offer in the offering made by
the undersigned registrant to the purchaser.
(b) The
registrant hereby undertakes that for purposes of determining any
liability under the Securities Act of 1933, each filing of the
registrant’s annual report pursuant to section 13(a) or
section 15(d) of the Securities Exchange Act of 1934 (and, where
applicable, each filing of an employee benefit plan’s annual
report pursuant to section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of
such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in
the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense
of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such
issue.
(d) The
registrant hereby undertakes that:
(1) For
purposes of determining any liability under the Securities Act, the
information omitted from the form of prospectus filed as part of
this registration statement in reliance upon Rule 430A and
contained in a form of prospectus filed by the registrant pursuant
to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall
be deemed to be part of this registration statement as of the time
it was declared effective.
(2) For
the purpose of determining any liability under the Securities Act,
each post-effective amendment that contains a form of prospectus
shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
SIGNATURES
Pursuant to the
requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets
all of the requirements for fling on Form S-3 and has duly caused
this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Denver,
State of Colorado, on April 5, 2019.
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New Age Beverages Corporation
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By:
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/s/ Brent B. Willis
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Brent
D. Willis
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Chief
Executive Officer (Principal Executive Officer)
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By:
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/s/ Gregory A. Gould
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Gregory
A. Gould
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Chief
Financial Officer (Principal Financial and Accounting
Officer)
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Each
person whose signature appears below constitutes and appoints Brent
D. Willis and Gregory A. Gould, and each of them severally, as his
true and lawful attorney in fact and agent, with full powers of
substitution and resubstitution, for him and in his name, place and
stead, in any and all capacities, to sign any or all amendments
(including post-effective amendments) to the Registration
Statement, and to sign any registration statement for the same
offering covered by this Registration Statement that is to be
effective upon filing pursuant to Rule 462(b) under the Securities
Act of 1933, as amended, and all post effective amendments thereto,
and to file the same, with all exhibits thereto, and all documents
in connection therewith, with the Securities and Exchange
Commission, granting unto said attorney-in-fact and agent, each
acting alone, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about
the premises, as fully to all intents and purposes as he or she
might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent, each acting alone, or his or
her substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
Pursuant to the
requirements of the Securities Act of 1933, this registration
statement has been signed by the following persons in the
capacities held on the dates indicated.
/s/ Brent D. Willis
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Chief
Executive Officer and Director of the Board of
Directors
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Brent
D. Willis
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(Principal
Executive Officer)
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April
5, 2019
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/s/ Gregory A. Gould
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Chief
Financial Officer
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Gregory
A. Gould
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(Principal
Financial and Accounting Officer)
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April
5, 2019
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/s/ Greg Fea
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Greg
Fea
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Chairman
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April
5, 2019
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/s/ Reggie Kapteyn
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Reggie
Kapteyn
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Director
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April
5, 2019
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/s/ Ed Brennan
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Ed
Brennan
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Director
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April
5, 2019
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/s/ Tim Haas
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Tim
Haas
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Director
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April
5, 2019
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/s/ Amy Kuzdowicz
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Amy
Kuzdowicz
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Director
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April
5, 2019
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