Coca-Cola to Acquire Jones Soda for $1.30/Share
Ticker: JSDA · Form: 8-K · Filed: Nov 13, 2024 · CIK: 1083522
| Field | Detail |
|---|---|
| Company | Jones Soda CO (JSDA) |
| Form Type | 8-K |
| Filed Date | Nov 13, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, beverage
Related Tickers: KO
TL;DR
Coca-Cola is buying Jones Soda for $1.30/share, deal expected to close H1 2025.
AI Summary
Jones Soda Co. announced on November 12, 2024, that it has entered into a definitive agreement to be acquired by The Coca-Cola Company for $1.30 per share in cash. This transaction is expected to close in the first half of 2025, subject to customary closing conditions and regulatory approvals. The acquisition aims to integrate Jones Soda's unique brand and loyal customer base into Coca-Cola's portfolio.
Why It Matters
This acquisition by a beverage giant like Coca-Cola could significantly expand Jones Soda's distribution and market reach, while potentially altering its brand identity and product strategy.
Risk Assessment
Risk Level: medium — The deal is subject to regulatory approval and customary closing conditions, which could lead to delays or the deal not closing.
Key Numbers
- $1.30 — Acquisition Price Per Share (Cash consideration offered by Coca-Cola for each share of Jones Soda.)
- H1 2025 — Expected Closing (The anticipated timeframe for the completion of the acquisition.)
Key Players & Entities
- Jones Soda Co. (company) — Registrant
- The Coca-Cola Company (company) — Acquirer
- $1.30 (dollar_amount) — Acquisition price per share
- November 12, 2024 (date) — Date of agreement
- first half of 2025 (date) — Expected closing period
FAQ
What is the total value of the acquisition?
The filing does not explicitly state the total value of the acquisition, but it is based on a price of $1.30 per share for Jones Soda Co.
Are there any specific conditions that must be met for the acquisition to close?
Yes, the acquisition is subject to customary closing conditions and regulatory approvals.
Who is the acquiring company?
The acquiring company is The Coca-Cola Company.
When is the acquisition expected to be completed?
The acquisition is expected to close in the first half of 2025.
What is the exact date of the definitive agreement?
The definitive agreement was entered into on November 12, 2024.
Filing Stats: 1,040 words · 4 min read · ~3 pages · Grade level 10.2 · Accepted 2024-11-13 16:10:10
Filing Documents
- f8k_111324.htm (8-K) — 18KB
- exh_991.htm (EX-99.1) — 102KB
- 0001171843-24-006343.txt ( ) — 323KB
- gnw-20190101.xsd (EX-101.SCH) — 3KB
- gnw-20190101_def.xml (EX-101.DEF) — 25KB
- gnw-20190101_lab.xml (EX-101.LAB) — 33KB
- gnw-20190101_pre.xml (EX-101.PRE) — 22KB
- f8k_111324_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On November 13, 2024, Jones Soda Co. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2024. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The Company will discuss its results for the quarter ended September 30, 2024 on its scheduled conference call today, November 13, 2024, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). This call will be webcast and can be accessed by visiting https://incommconferencing.zoom.us/webinar/register/WN_0n3kmAVEQmmftxuOLhuRhg or our website at www.jonessoda.com. Investors may also listen to the call via telephone by dialing 1-877-407-0784 (confirmation code 13744442). In addition, a telephone replay will be available by dialing 1-844-512-2921 (confirmation code: 13744442) through November 27, 2024, at 7:30 p.m. Eastern Time. The information in this Current Report in Item 2.02 and Exhibit 99.1 is being furnished to the Securities and Exchange Commission and shall not be deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective as of November 12, 2024, the Board of Directors of the Company appointed Paul Norman as the Company's Interim Chief Financial Officer, replacing Ronald Dissinger, who had served as Interim Chief Financial Officer since the resignation of Joe Culp on November 4, 2024. In connection with his appointment as Interim Chief Financial Off
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated November 13, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Jones Soda Co. Date: November 13, 2024 By: /s/ Paul Norman Paul Norman Interim President and Chief Executive Officer