Celsius Holdings, Inc. announced that it has entered into definitive agreement with new investor PepsiCo, Inc. for issue of convertible preferred shares for gross proceeds of $550 million on August 1, 2022. The company gives the investor a right to 7,330,000 shares at a price of $75 per share or the equivalent of an 8.5% ownership stake in the company on an as-converted basis. The preferred shares are entitled to a 5% annual dividend.

A representative from PepsiCo, Inc. will join the company's board of directors as a part of the transaction. The company issued securities pursuant to exemption provided under Regulation D.