Reeds Inc. (REED)

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Like clockwork....

Reed’s Inc. Announces $7.9 Million Registered Direct Offering

Source: GlobeNewswire Inc.

Reed’s Inc. (Nasdaq: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, today announced that it has entered into a stock purchase agreement relating to a registered direct offering in which the Company would sell up to 6,680,000 shares of its common stock at a price of $1.18 per share for gross proceeds of approximately $7.9 million.
Roth Capital Partners, served as sole placement agent for the transaction. After the placement agent fees and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $7.4 million. The offering is expected to close on May 7, 2021, subject to customary closing conditions.