Eastside Distilling’s Strategic Debt Exchange and Business Restructuring
Company Announcements

Eastside Distilling’s Strategic Debt Exchange and Business Restructuring

Eastside Distilling (EAST) just unveiled an update.

Eastside and its subsidiary, Craft Canning & Bottling, LLC, have entered into a significant Debt Exchange Agreement with a consortium of investors. Under this agreement, the investors will surrender various debt instruments and in return, gain ownership stakes in Craft and newly issued preferred and common stock of Eastside. Additionally, the deal involves the creation of Spirits, Inc., to which Eastside will transfer its spirits business assets and provide the investors with a 47% shareholding. This strategic financial restructuring is aimed at consolidating debt and is poised to reshape Eastside’s business structure and investor relations.

For detailed information about EAST stock, go to TipRanks’ Stock Analysis page.

Related Articles
Carrie WilliamsEAST Upcoming Earnings Report: What to Expect?
TipRanks Auto-Generated NewsdeskEastside Distilling Announces Corporate Transformation and Debt Restructuring
TheFlyEastside Distilling files $10M mixed securities shelf
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App