On August 20, 2026, Air Water Ventures Ltd. entered into a non-binding letter of intent to acquire substantially all assets of Second Spring Water Inc., a premium spring water brand. The proposed transaction involves base consideration of $92.5 million in company common stock and $7.5 million in cash at closing, plus potential contingent stock consideration subject to a price floor of $3.00 and cap of $6.00. Concurrently, Second Spring executed secured promissory notes totaling $4.5 million, including a $3.0 million note held by Air Water Ventures Holdings Limited and a $1.5 million convertible note for working capital financing. These bridge loans are scheduled to be cancelled upon acquisition closing. The company operates in the beverage industry.