Shaquille O’Neal Gets Alkaline Water Stake in Branding Pact
- Basketball great to receive 7 million shares over three years
- ‘Larger-than-life personality’ bodes well for marketing plans
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NBA Hall of Famer Shaquille O’Neal is joining Alkaline Water Co. as an equity partner and member of the board of advisers, betting he can help make inroads for the bottled-water company in a crowded market.
The basketball star will ultimately receive 7 million common shares of Alkaline Water over a three-year period, which equals a stake of about 5% to 6% on a fully diluted basis, Chairman Aaron Keay told Bloomberg News in an interview. Ranked by current holdings, this would make O’Neal the largest shareholder. The stock climbed as much as 9% Thursday, marking the biggest intraday gain since March 9.