Reed's (REED) Announces $7.9 Million Registered Direct Offering

May 5, 2021 8:01 AM EDT

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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.

Reed’s intends to use the proceeds to fund working capital and for general corporate purposes, including supporting additional distribution opportunities as the Company continues executing against its strategic plan.

The shares described above are being offered by Reed’s Inc. pursuant to a registration statement on Form S-3 (Registration No. 333-229105), previously filed with and subsequently declared effective by the Securities and Exchange Commission. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



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