Safety Shot Inc. Halts ATM Program as Nasdaq-Listed Wellness Company Signals Confidence in Market Position

Safety Shot, Inc. (Nasdaq: SHOT), the wellness and dietary supplement manufacturer, has discontinued its at-the-market equity offering program, marking a deliberate pivot in its capital strategy. The decision reflects management’s assessment that equity dilution is no longer a necessary tool for funding growth, positioning the company to preserve shareholder interests while pursuing aggressive retail expansion.

Strategic Rationale Behind the Capital Decision

CEO Jarrett Boon articulated the reasoning behind terminating the program: “This move underscores our conviction in the Company’s financial trajectory and operational momentum. Eliminating ongoing equity dilution demonstrates our commitment to strengthening per-share value and reinforcing investor confidence.” The company had previously channeled 397,064 shares into the ATM offering, generating $481,256.20—capital now allocated toward expansion initiatives and balance sheet reinforcement.

Retail Footprint Expansion Accelerates Safety Shot’s Market Penetration

Throughout 2024, Safety Shot methodically built partnerships with major retail chains, substantially widening its shelf presence:

• 7-Eleven expansion brought Sure Shot into 300 Chicago-area locations
• Casey’s General Stores network began distributing Yerbaé beverages across 300+ Midwest outlets
• King Soopers rollout placed Yerbaé products throughout Colorado stores
• Dual-grocer distribution agreements secured Sure Shot placement across 2,400+ retail locations spanning 35 states, plus an additional 300 Midwest outlets

This multi-channel distribution architecture enables Safety Shot to capture diverse consumer segments, from convenience store shoppers to grocery staple purchasers, substantially reducing customer acquisition friction.

The Yerbaé Acquisition: Consolidating the Functional Beverage Category

The pending acquisition of Yerbaé Brands Corp., founded by Todd Gibson and Karrie Gibson in 2017, represents Safety Shot’s strategic bet on the functional beverage market. Yerbaé has built a recognized brand around zero-sugar, zero-calorie plant-based drinks featuring yerba mate—a South American botanical containing 196 vitamins, minerals, and nutrients alongside natural caffeine. By integrating Yerbaé’s product line and market presence, Safety Shot constructs a more comprehensive wellness portfolio addressing both energy management (Sure Shot’s alcohol-metabolism focus) and sustained wellness (Yerbaé’s nutritional foundation).

Capital Allocation and Balance Sheet Considerations

By terminating the ATM offering, Safety Shot eliminates the potential overhang of continuous share issuance, which can suppress valuation multiples and dilute ownership percentages. The $481,256.20 raised during the program’s operational window provides sufficient liquidity for executing the acquisition and supporting go-to-market activities without requiring additional equity raises. This capital preservation posture typically appeals to institutional investors evaluating long-term holding potential rather than near-term dilution risk.

Market Position and Product Ecosystem

Sure Shot—marketed as the first patented product to lower blood alcohol content while supporting metabolic processes and enhancing mental clarity—occupies a niche segment within the broader wellness category. Available through direct online channels (sureshot.com, Walmart, Amazon) and increasingly through business-to-business distribution to restaurants and bars, the product’s distribution model mirrors typical beverage company playbooks. The addition of Yerbaé’s established retail relationships and brand equity expands Safety Shot’s addressable market considerably.

Forward Outlook and Execution Risk

Management remains focused on retail footprint expansion, sales acceleration, and brand awareness building throughout 2025 and beyond. The combination of ATM termination, acquisitive growth, and multi-channel distribution positioning suggests management confidence in near-term commercialization success. However, functional beverage category adoption rates, competitive intensity from established players, and retail shelf-space allocation decisions represent material execution variables.

For investor inquiries regarding Safety Shot, contact investors@drinksafetyshot.com or 561-244-7100. Yerbaé-related investor communications should be directed to investors@yerbae.com or 480.471.8391.