New Age Beverages announces merger and shares more than doubled after hours

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New Age Beverages Corp. NBEV,
+ 4,81%
Shares jumped more than 100% Monday after hours after the beverage company announced a merger with a tiered marketing company and other consumer product manufacturers. New Age – which has reached a level of notoriety on Wall Street in recent years by pushing drinks made with CBD, a non-intoxicating compound derived from marijuana – has said it will combine with ARIIX and its product brands. New Age plans to acquire ARIIX for a combination of $ 25 million in cash, 18 million shares and convertible notes totaling over $ 150 million. It will bring in ARIIX subsidiaries offering a variety of “health and wellness” products, including supplements, algae-based nutritional products and DNA sequencing products. Shares of New Age Beverages more than doubled in after-hours trading, after gaining 4.8% to $ 1.74 in regular trading. Inventories have declined 57% in the past year.

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