Zevia Raises $20M in Convertible Preferred, Updates Q3 Outlook
Zevia agreed to issue $20 million of Series A senior convertible preferred to GP Investments at 120% of 10-day VWAP, with a 6% PIK dividend. It expects Q3 2026 net sales of about $48 million and adjusted EBITDA of -$0.9 million to -$1.0 million.
Zevia agreed to issue GP Investments $20M of Series A senior convertible preferred stock at 120% of 10-day VWAP, carrying a 6% PIK dividend. The company now forecasts Q3 2026 net sales of approximately $48M and adjusted EBITDA of -$0.9M to -$1.0M.