Represented KonaRed Corporation in a $2.5 million growth capital financing. Santa-Monica-based Venice Brands, LLC acted as the primary investor. The transaction involved two new series of convertible preferred stock, 23 different types of warrants, a mechanism for a contingent shift of power to elect a Board majority, two new stock option plans, a management transition with new services agreements, and KonaRed agreeing to “go dark” (elect to cease to be a reporting public company).
KonaRed Corporation (OTCQB: KRED) makes ready-to-drink bottled cold brew coffee, and other coffee and coffee-fruit products, which are sold in supermarkets, other retail outlets and online. KonaRed has roots in Hawaii but is now San Clemente-based.
The transaction was handled by San Diego-based Hayden Trubitt.