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Hemp-based beverage maker Kona Gold Beverage (OTCQB:KGKG) has filed to raise $14M through an initial public offering and uplist its shares to Nasdaq.

Kona didn’t state in its filing how many shares or warrants it intends to sell, but indicated in its fee schedule that it was looking to raise approximately $14M.

The company hopes to list its shares on Nasdaq under the symbol KGKG. Its shares are currently traded OTC under the same symbol.

Based in Florida, Kona is a developer of hemp and cannabidiol-based beverages, including energy drinks and CBD waters. The company also distributes other beverages such as kids drinks, low-carb lemonade, alkaline waters and fruit-flavored sodas.

For 2021, Kona reported a net loss of $7M on net revenue of $2.5M.

For more IPO news, check out SA’s IPO News page.


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By admin