New York, June 4, 2026, 08:05 (EDT)
- Splash Beverage gained 71.0% at the close Wednesday and traded higher again in the premarket before the NYSE American opened.
- The company said it submitted a plan to the NYSE American to get back in line with stockholders’ equity listing rules.
- A previous Medterra CBD letter of intent has lapsed, so the company’s cannabinoid wellness strategy is now reliant on new negotiations and fresh financing.
Splash Beverage Group shares jumped in premarket trade Thursday, building on big gains after the company announced it filed a plan to cure its NYSE American listing deficiency and said it is still looking at deals in cannabinoid wellness. SBEV finished at $0.2420 Wednesday, up 71.0%, and changed hands at $0.3650 before the bell at 7:42 a.m. EDT.
The run-up comes down to survival moves, not people drinking more beverages—it’s about keeping the listing, lining up a deal, and grabbing enough new funds to keep things going. The NYSE regular session wasn’t open yet at that point; core hours are 9:30 a.m. to 4:00 p.m. Eastern.
Splash said NYSE Regulation notified it on April 29 that it had fallen out of compliance with listing standards connected to stockholders’ equity, which is assets minus liabilities. The company sent a compliance plan on May 28. If NYSE accepts the plan, Splash could get a cure period lasting to Jan. 29, 2027.
The Fort Lauderdale, Florida-based company said its non-binding letter of intent with Medterra CBD ended on May 4 without turning into a definitive deal. The company said the letter was non-exclusive. It’s now in talks with several other potential partners in the cannabinoid wellness space.
Splash interim CEO Brady Cobb said the company is moving ahead “on multiple fronts” and described the NYSE plan as an “important milestone.” Splash wants any deal to be “strategically compelling” and “financially responsible,” Cobb said.
Splash’s balance sheet is in the spotlight after its latest quarterly filing. For the first quarter, net revenue was $4,224, dropping from $68,606 a year ago. Net loss from continuing operations was $2.14 million.
Splash said in the filing that it has just one product line so far, Chispo tequila, and first-quarter revenue was from selling to Senor Frog locations. The company also said slow beverage sales had shifted its focus to regulated wellness and cannabinoid markets.
Cash was tight. Splash reported $381,195 in cash and cash equivalents as of March 31. It said that wasn’t enough to cover working capital for the 12 months after the filing. Splash also said it needed about $10 million for the Medterra deal before the Medterra letter expired.
Splash wants to shift its business into a section of the public market already full of names. Tilray Brands pitches itself as a global consumer-products group with ties to wellness, and Canopy Growth focuses on wellness and cannabis. Splash is looking to join them, but from a much smaller, more financially strained position.
But nothing is guaranteed. NYSE American can still turn down the compliance plan, there might not be a signed deal after talks, and raising capital could mean dilution for current shareholders. The company itself lists risks in its language—raising funds, staying listed, getting deals done, and keeping up with changing cannabinoid rules all remain flagged as open issues.
The next thing to watch will be if premarket buying sticks once the market opens. The company still needs to show that Splash can turn its compliance plan and deal talks into the equity, cash and operations it needs to hold onto its listing.
