BOCA RATON, Fla. — Celsius Holdings, Inc., (Other OTC:CELH) the creator and marketer of Celsius(R), the world’s first and only negative calorie drink backed by clinical science, today reported that CDS Ventures of South Florida, LLC increased their stake in Celsius Holdings Inc. and extended the debt instrument.
On August 26th, Celsius Holdings, Inc. issued 2,200 shares of a newly created Series C Preferred Stock to CDS Ventures of South Florida, LLC and realized $2,200,000 in gross proceeds from the stock sale. The stock is entitled to receive dividends at a rate of 6 percent per year and is convertible into shares of common stock at a conversion price equal to $0.52 per share. The proceeds from the transaction will be used to repay senior indebtedness.
Celsius Holdings, Inc. also announced that the maturity date of the senior promissory note for $7.45 million under the Company’s Senior Credit Facility has been extended from July 12, 2014 to July 12, 2015. In addition, the maturity date of the convertible note for $1.5 million has been extended from September 8, 2014 to September 8, 2015; all other terms remain the same.
“I am pleased with the results over the past two quarters,” Mr. Carl DeSantis, chairman and CEO of CDS Ventures of South Florida LLC, stated. “Celsius benefits are meeting the needs of the consumer in the three fastest growing categories in retail.” Mr. DeSantis continued, “My confidence in the Celsius brand and the management team could not be stronger.”
“Our association with Mr. DeSantis and CDS Ventures, has allowed our team to execute the turnaround initiatives and lay a strong foundation for the future,” Mr. Gerry David, president and CEO stated. Mr. David continued, “Mr. DeSantis’ track record of success coupled with his passion for Celsius has been an inspiration to our organization.”
About Celsius Holdings, Inc.
Celsius Holdings, Inc. (Other OTC:CELH.PK) markets Celsius(R), which is backed by science. Celsius is dedicated to providing healthier, everyday refreshment through science and innovation.