Celsius Holdings Sees $6.8 M Cash Infusion as Insider Milmoe William H. Executes Structured 120K‑Share Forward Settlements—Market Watch on Potential Dilution and Strategic Timing

Insider Selling in the Heat of a Volatile Market

Milmoe William H., the managing partner of CD Financial LLC and trustee of the Carl DeSantis Revocable Trust, has sold 120 000 shares of Celsius Holdings (CELH) on January 16 2026 at the prevailing market price of $56.47. The sale coincides with the physical settlement of three tranches of a prepaid variable forward (VPF) contract entered into on January 19 2023. Each tranche required CD to deliver 120 000 shares and, in return, received cash equal to the excess of the settlement price over the floor price (or a capped amount if the price exceeded the cap). The settlement dates—January 15, 16, and 20—yielded a price between the floor and cap, so the seller received cash while transferring the shares to the buyer. In effect, Milmoe’s “sell” on the form is part of a pre‑arranged forward trade rather than a discretionary market sale.

What This Means for Investors

1. Liquidity Injection vs. Share‑Dilution Signal The transaction delivers roughly $6.8 million in cash to CD/De Santis, improving liquidity and providing capital that could be used for product development, debt reduction, or strategic acquisitions. However, the simultaneous transfer of 120 000 shares adds to the share count in the market, which could dilute earnings per share if the company’s revenue growth does not outpace the higher float.

2. Market‑Sentiment Context Celsius’ stock is trading near a 52‑week low but has posted a 27 % monthly gain and a 125 % yearly rise, indicating a rebound from a recent trough. The high price‑to‑earnings ratio (434.37) and the 373 % social‑media buzz suggest that investors are watching the stock closely, and any insider activity will be interpreted as a barometer of confidence. Milmoe’s sale, aligned with a structured VPF, may be perceived as a neutral move, but the sheer volume of shares transferred could trigger a short‑term price dip unless offset by the cash influx.

3. Strategic Timing The VPF was initiated in early 2023 when Celsius was exploring a strategic shift toward broader distribution and digital sales channels. The settlement of the forward in early 2026 may reflect a decision to lock in a price range and secure capital before the next earnings cycle. For shareholders, this could mean a more predictable capital structure going into the next fiscal quarter.

Profile of Milmoe William H.

Milmoe has been a consistent seller of Celsius shares since late 2025, with 120 000‑share sales every trading day from December 29 2025 to January 21 2026. The pattern—daily block sales at roughly $38.79—suggests a systematic divestment strategy rather than opportunistic trading. Coupled with the VPF settlements, Milmoe’s activity points to a disciplined approach to risk management: hedging against price volatility while gradually reducing ownership. As the trustee of the De Santis trust, which holds a 99 % beneficial interest in CD, Milmoe’s decisions directly affect the trust’s cash position and investment mandate.

Outlook for Celsius Holdings

• Capital Structure: The cash from the VPF settlements could enable Celsius to fund new product launches or reduce debt, potentially improving earnings per share over time.
• Share Supply: The addition of 120 000 shares per tranche increases the float, but at a valuation where each share trades well above book value, the dilution effect may be modest relative to the company’s market cap (~$14.0 billion).
• Investor Sentiment: With high social‑media buzz and a neutral insider sale, the market may view Celsius as a high‑volatility play. Short‑term price swings are likely, but the underlying fundamentals—steady revenue growth in the thermogenic beverage niche and expanding distribution—provide a long‑term upside.

Takeaway for Investors

Milmoe William H.’s structured sell‑to‑settle transaction is a calculated move to secure liquidity while managing exposure. The daily share sales and VPF settlements reflect a disciplined, risk‑averse strategy that should not alarm long‑term shareholders. However, investors should monitor the impact on the share float and keep an eye on Celsius’s next earnings release to assess whether the capital infusion translates into operational or strategic gains.