DNA Brands plans $1.5 million equity capital raise with Charles Morgan

Company anticipates $2.5 million second offer; funds for advertising

By Marisa Wong

Madison, Wis., April 18 - DNA Brands, Inc. announced it is planning an initial private offering of up to $1.5 million of stock and a second offering for an additional $2.5 million.

The shares will be priced at $0.30 each in the initial equity capital raise, according to a news release. Pricing for the second capital raise will be determined in the future.

Charles Morgan Securities, Inc. will assist in the capital raise as DNA's investment banker.

Funds will be used to increase inventory and implement an aggressive marketing and advertising campaign, according to the release.

Based in Boca Raton, Fla., DNA makes energy drinks.

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