Long Island Iced Tea Corp., public offering
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September 2017 Posts


Blog Entry

Long Island Iced Tea Corp. Announces Public Offering of Common Stock

Saturday, September 30th 2017 @ 10:48 PM

Long Island Iced Tea Corp. (NASDAQ: LTEA) (the "Company"), a growth-oriented company focused on the ready-to-drink tea segment in the beverage industry, today announced the signing of subscription agreements for a public offering of 607,500 shares of its common stock at a public offering price of $2.05 per share. The offering is expected to close on September 29, 2017.

Each investor in the offering also will receive a warrant to purchase 50% of the number of shares for which such investor subscribed in the offering (or a total aggregate number of shares underlying such warrants equal to 303,750 shares). The warrants will have an exercise price of $2.40 per share, subject to adjustment, and will expire one year from the closing of the offering.

The offering was made pursuant to an effective shelf registration statement on Form S-3 previously filed with and subsequently declared effective by the Securities and Exchange Commission (the "SEC"). A prospectus supplement relating to the offering is being filed with the Securities and Exchange Commission. Copies of the prospectus supplement relating to the offering, together with the accompanying base prospectus included in the registration statement, may be obtained from the Securities and Exchange Commission at http://www.sec.gov, or from the Company at 12-1 Dubon Court, Farmingdale, NY 11735, Telephone: (855) 542-2832.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Long Island Iced Tea Corp.

Headquartered in Long Island, NY, Long Island Iced Tea Corp. operates in the non-alcohol ready-to-drink segment of the beverage industry. The Company's flagship brand 'The Original Long Island Brand Iced Tea®,' together with 'The Original Long Island Brand Lemonade™' are marketed as premium beverages made with non-GMO ingredients. The company also imports and markets 'ALO Juice®' a functional Aloe Vera based beverage. The Company's portfolio of premium brands sits within the 'better-for-you' category of the beverage industry, and are offered to consumers at an affordable price, reflecting the Company's mission. Its beverages are sold primarily through a network of regional chains and distributors primarily on the East Coast and the Midwest of the United States, as well as Canada and Latin America. The Company's website is  www.longislandicedtea.com

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