Eastside Distilling, a craft spirits producer, announced the completion of a registered direct offering, raising $442,042 from a single institutional investor at a premium price. The funds will be used to support the company’s growth and expansion plans.
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Eastside Distilling’s stock surged on Thursday after the company announced a merger agreement with Beeline Financial Holdings, a mortgage technology firm. The deal eliminates Eastside’s debt and opens up growth opportunities for Craft Canning + Digital Printing.