A Long Island maker of alcoholic beverages endorsed by Christie Brinkley and other celebrities is planning a stock sale by current shareholders, according to a government filing.
Iconic Brands Inc., based in Amityville, uses model-actress Brinkley, actor Chazz Palminteri ("A Bronx Tale") and other celebrities to promote its organic prosecco, a sparkling white wine, "BiVi 100 percent Sicilian vodka" and other products.
The government filing said the company had 1.5 billion shares outstanding before the offering and is registering an additional 240 million shares of stock for resale by shareholders, including The Special Equities Group LLC based in Roslyn, which owns 79.3 million shares.
The selling shareholders received the additional stock through the conversion of previously issued convertible preferred stock, the filing said.
The shares will be sold "at a fixed price" of 1 cent per share, the filing said. Shares of the company rose more than 15 percent to close at $0.0030 Thursday on the OTC Pink market.
Calls seeking comment from Richard DeCicco, chief executive of Iconic Brands, and Jonathan Schechter, a principal of The Special Equities Group, were not returned.
DeCicco owns 28.6 percent of the company's stock, but has 78.4 percent of the voting power.
The company formerly was known as Paw Spa Inc. and its business plan, which was abandoned, called for providing mobile grooming and spa services for dogs and cats.
In the quarter ended June 30, Iconic Brands posted a net loss of $588,328 on sales of $143,551. Among the company's costs are royalties paid to "entities controlled by" Brinkley and Palminteri.