Zevia Secures $20 Million Growth Equity From GP Investments

Zevia PBC (NYSE:ZVIA) has entered into a definitive agreement with GP Investments to issue $20 million in growth equity, a move the company says will fund its strategic reset and improve balance sheet flexibility. The transaction, structured as Series A Senior Convertible Preferred Stock, marks the culmination of a 12-month review of strategic alternatives conducted by Piper Sandler and Zevia’s Board of Directors.

The investment provides Zevia with capital to accelerate product innovation and scale its digital-first ecosystem. Alexandre Ruberti, Zevia’s Chief Executive Officer, stated that the partnership brings strategic resources and operational expertise to support the company’s medium- and long-term growth agenda. GP Investments, founded in the early 1990s by entrepreneurs behind ABInbev and 3G, will designate a director to Zevia’s Board of Directors.

Financial terms of the deal include an initial conversion price set at 120% of the volume-weighted average price over the 10 trading days preceding signing. The preferred stock carries a 6% dividend payable in kind. Rodrigo Boscolo, CEO of GP Investments, noted that Zevia’s clean-label positioning and loyal consumer base provide a strong foundation for expanding single-can availability and developing products for new consumption occasions.

Zevia’s strategic reset focuses on three operational pillars: accelerating consumer-led product innovation to reach Gen Z and Millennial consumers; shifting marketing investment toward lower- and mid-funnel digital channels to improve conversion; and executing a hybrid go-to-market strategy. This includes continued investment in the company’s West Coast direct store delivery infrastructure and the use of third-party merchandising partners in non-DSD markets to improve brand presence.

In conjunction with the financing announcement, Zevia revised its preliminary outlook for the third quarter of 2026. The company now projects net sales of approximately $48 million, which sits above the $44 million to $46 million range it previously outlined. For adjusted EBITDA, Zevia anticipates a loss between $900 thousand and $1.0 million, a marked improvement from the prior forecasted deficit of $3.0 million to $3.5 million.

Girish Satya, Chief Financial Officer of Zevia, described the financing as a pivotal step in the company’s evolution following a two-year period focused on streamlining operations. The additional balance-sheet capacity is intended to allow Zevia to capitalize on opportunities across its beverage categories. Zevia plans to report its full third quarter 2026 financial results on November 4, 2026, after market close.