Ropes & Gray advised Zevia PBC in its definitive agreement to issue convertible preferred stock to a fund managed by GP Investments Ltd. in exchange for $20 million of growth equity. The transaction was announced on October 22.
The proceeds will fund Zevia's strategic reset, which focuses on product innovation, digital demand generation and a hybrid go-to-market strategy.
Zevia PBC is a Certified B Corporation offering a portfolio of naturally sweetened, better-for-you beverages made with simple, plant-based ingredients, distributed in more than 41,000 retail locations in the U.S. and Canada.
The Ropes & Gray team was led by mergers & acquisitions partners Suni Sreepada and Chris Comeau and included tax partner Alyssa Kollmeyer, capital markets partner Sam Badawi, and finance partner Jeff Lang.
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