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.