Barfresh Secures $3 Million in Profitable Growth Financing
06 Février 2025 - 2:00PM
Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq:
BRFH), a provider of frozen, ready-to-blend and ready-to-drink
beverages, today announced the completion of a $3 million financing
round for common stock at $2.85 per share, primarily supported by
existing shareholders. This strategic investment will fuel the
Company’s expansion of manufacturing capabilities to meet growing
customer demand, following continued customer wins through its
education channel and strong market feedback from select testing
for its new Pop & Go™ 100% Juice Freeze Pops. The Company
expects this financing will enable it to achieve positive cash
flow.
The financing will
enable Barfresh to improve margins by scaling production capacity
to fully serve current customer commitments and support aggressive
profitable growth initiatives to capture opportunities within the
existing sales pipeline. The timing of this investment aligns with
the Company’s preparations to introduce its new Pop & Go™ 100%
Juice Freeze Pops to the education market, following highly
positive feedback during initial testing in select school
locations. The Company continues to build momentum, having secured
a large number of new customers within the education channel,
demonstrating growing demand for its suite of better-for-you
smoothie beverages.
Riccardo Delle Coste,
the Company’s Chief Executive Officer, stated, “This funding round
represents a strong vote of confidence from our existing investors
and validates our profitable growth strategy. With this additional
capital, we are well-positioned to meet the increasing demand from
our customers and capitalize on the significant opportunities in
our pipeline. The enthusiastic response to our Pop & Go™ in
test markets and this expanded manufacturing capacity will enable
us to capture a larger share of the education market, where we’ve
only scratched the surface of the opportunity."
About Barfresh Food
Group
Barfresh Food Group
Inc. (Nasdaq: BRFH) is a developer, manufacturer and distributor of
ready-to-blend and ready-to-drink beverages, including smoothies,
shakes and frappes, primarily for the education market, foodservice
industry and restaurant chains, delivered as fully prepared
individual portions or single serving and bulk formats for on-site
preparation. The Company’s single serving, on-site prepared product
utilizes a proprietary, patented system that uses
portion-controlled pre-packaged beverage ingredients, delivering a
freshly made frozen beverage that is quick, cost efficient, better
for you and without waste. For more information, please visit
www.barfresh.com.
Forward Looking Statements
Except for historical information herein, matters set forth in
this press release are forward-looking, including statements about
the Company’s commercial progress, success of its strategic
relationship(s), and projections of future financial performance.
These forward-looking statements are identified by the use of words
such as “grow”, “expand”, “anticipate”, “intend”, “estimate”,
“believe”, “expect”, “plan”, “should”, “hypothetical”, “potential”,
“forecast” and “project”, “continue,” “could,” “may,” “predict,”
and “will” and variations of such words and similar expressions are
intended to identify such forward-looking statements. All
statements, other than statements of historical fact, included in
the press release that address activities, events or developments
that the Company believes or anticipates will or may occur in the
future are forward-looking statements. These statements are based
on certain assumptions made based on experience, expected future
developments and other factors the Company believes are appropriate
under the circumstances. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. Accordingly, you
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made. The
contents of this release should be considered in conjunction with
the Company’s recent filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K, including any
warnings, risk factors and cautionary statements contained therein.
Furthermore, the Company expressly disclaims any current intention
to update publicly any forward-looking statements after the
distribution of this release, whether as a result of new
information, future events, changes in assumptions or
otherwise.
ContactJohn
MillsICR646-277-1254John.Mills@icrinc.com
Deirdre ThomsonICR646-277-1283Deirdre.Thomson@icrinc.com
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