BevPoint Capital LP and Okmin Resources, Inc. (OTCQB: OKMN) have entered into a merger agreement that was signed on January 29, 2026 and is expected to close on March 31, 2026. The transaction values Okmin at $26.4 million and will see Okmin issuing 220,000,000 shares to BevPoint holders, giving the buyer a 55.6% stake in the combined company. In addition, BevPoint will contribute $730,000 in cash before closing to support the transition.
Okmin’s financial position has been severely strained. As of December 31, 2025, the company reported only $705 in cash, a working‑capital deficit of $655,884, and a total liability of $656,589, prompting a going‑concern warning. The fourth‑quarter 2025 10‑Q showed revenue of $2.814 million and a net loss of $129.161 million, while oil and gas revenue for the six months ended December 31, 2025, was just $4.902 k, down sharply from $11.303 k a year earlier.
The merger represents a strategic pivot for Okmin, which will rebrand as BevPoint, Inc. The new focus is on craft beverage and experiential hospitality, anchored by the American Icon Brewery in Vero Beach, Florida. BevPoint acquired the brewery in September 2025; it generated more than $4 million in annual sales from 2023 to 2025 and is slated to reopen on July 4, 2026. The brewery serves as a prototype for future heritage‑based hospitality destinations across the United States.
Chris Sellers, CEO of BevPoint, said, "At BevPoint, we see hospitality as a storytelling medium. Every community has a story, and our goal is to design destinations that let guests step into that story, to feel the history, taste the local flavor, and immerse themselves in the culture that makes each location unique." He added, "The proposed redevelopment of American Icon Brewery is a blueprint for BevPoint's approach to future projects. We want to take iconic locations, honor their history, and create immersive experiences that make guests feel they are part of the heritage of the iconic venues."
The deal introduces significant dilution for existing Okmin shareholders, as the share issuance will represent more than half of the post‑merger equity. However, the infusion of cash and the shift to a higher‑margin hospitality model are intended to stabilize the company’s balance sheet and provide a path to profitability. Success will hinge on BevPoint’s ability to execute the hospitality strategy and on the market’s reception of the rebranded brand.
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