Celsius Holdings, Inc. (OTCMKTS:CELH) spiked up massively during the Friday’s trading session while its upward trajectory continued towards the after-hours as well. The company’s instant popularity on the bourses is explained from its late April announcement, where the company notified of a strategic investment worth $15.9 million.
Most recent press note
Further, the company emphasized the contribution of global business tycoons such as the founder of Def Jams, Russell Simmons, and Kimora Lee Simmons. At the same time, the company also informed the investment from Horizon Ventures, which is a China-based venture capital firm. The news sent out a wave of thrill to the investors, which reflected their optimism by helping the stock of Celsius Holdings, Inc. (OTCMKTS:CELH) soar to newest levels. However, the stock inched down again following being categorized in the ‘overbought’ territory.
More importantly, the investors failed to pay attention to the finer details of the deal muted by the noise of the press note. The filings of the Celsius Holdings, Inc. (OTCMKTS:CELH) reveal that the company concluded the so-called ‘strategic investment’ through the sale of its 12.9 million shares for just $0.89 per share. Further, the filing throws light on the fact that certain members among the said icons, bought 1.15 million outstanding convertible note and immediately converted the same into 5,000,000 shares carrying a discounted price of $0.30 per share. Thus, the deal truly reflects the actual value at which the company wrapped up the deal.
Alongside this, Altitrade Partners, a market research firm, has released a report on Celsius Holdings, Inc. (OTCMKTS:CELH), covering the various risk factors associated with the company. Hence, it will be interesting to see going forth that how far the company is capable to maintain upside rally. During the last trading session, Celsius Holdings, Inc. (OTCMKTS:CELH) surged by over 23% to $3.05 as 117,334 shares traded hands.