Canaccord Genuity Acts as Financial Advisor to Flow Beverage Corp. on its $20 Million Senior Secured Debt Facility
Canaccord Genuity is pleased to announce that on January 3, 2023, its client, Flow Beverage Corp. (TSX: FLOW) ("Flow"), announced that it has entered into a senior secured term loan (the "Loan") of up to $20.3 million. Flow has initially drawn $15.3 million pursuant to the Loan and has the ability, subject to certain conditions, to draw an additional $5.0 million prior to the one-year anniversary of the initial draw under the Loan.
Flow intends to use the Loan proceeds to repay $9.6 million in unsecured notes, as well as to invest in the growth of the Flow brand, working capital and for general corporate purposes.
Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, collagen-infused and vitamin-infused flavours in sizes ranging from 330-ml to 1-litre.
Canaccord Genuity acted as financial advisor to Flow with respect to the Loan. The Canaccord Genuity team included Brian Bacal, Brian Hurley and Jack Xia from Investment Banking.