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SOS Hydration (SOSH), a marketer of low-sugar sports drinks, is attempting to raise approximately $7.5 million through an IPO.
The beverage company submitted a modified S-1 to offer 1.4 million units priced between $4.50 and $6.50. At a mid-range price of $5.50, the company would raise about $7.5 million. Each unit consists of one share plus a warrant to purchase one share at the public price.
Underwriters will have a 45-day option to purchase up to 205,000 additional shares and/or warrants to purchase shares at the public price. The Maxim Group is acting as the sole bookrunner for the transaction.
SOS hopes to list its shares on the Nasdaq under the symbol SOSH. The company applied for an IPO for the first time in January.
Colorado-based SOS has developed a line of electrolyte replacement drinks that contain less sugar than many leading sports drinks. The Company also markets a children’s sports drink product that features characters from the Nickelodeon show “Paw Patrol.” SOS drinks are currently sold at Walmart, CVS, Kroger and Whole Foods.
For 2021, SOS reported a net loss of $7.1 million on revenue of $3.7 million.
For a deeper dive into SOS Hydration, read SA contributor Donovan Jones, “SOS Hydration Aims for IPO to Fund Expansion Plans.”
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