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Shares of New Age Beverages fall after company prices public offering

Firm aims to raise US$4mln to bolster inventory, working capital

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The shares declined 19% after stock was priced

Shares of New Age Beverages Corp. (NASDAQ:NBEV) dropped after the company priced stock in a public offering aimed at helping it purchase new inventory and bolster working capital.

The shares declined 19% to US$1.68 at 2:01 p.m.

The company, which makes the XingTea and Aspen Pure Rocky Mountain Water brands, seeks to raise $4mln through the offering. It said today it will offer 2.28mln shares at US$1.75 each

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