Reed’s Inc. (NASDAQ: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, has closed an underwritten public offering of 11,666,667 shares of its common stock. According to the update, the offering resulted in approximately $7 million of gross proceeds to Reed’s Inc., with each of the shares sold at the public offering price of $0.60. Reed’s intends to use the offering’s proceeds to fund the growth of its business, new products, sales and marketing efforts, working capital, and for general corporate purposes. In addition, Reed’s has granted a 45-day option to the underwriter to purchase up to an additional 1,750,000 shares of common stock to cover overallotments in connection with the offering. ROTH Capital Partners acted as the sole manager for the offering.
To view the full press release, visit http://nnw.fm/NQtZ0
About Reed’s Inc.
Established in 1989, Reed’s is America’s best-selling Ginger Beer brand and has been the leader and innovator in the Ginger Beer category for decades. Virgil’s is America’s best-selling independent, full line of natural craft sodas. The Reed’s Inc. portfolio is sold in over 35,000 retail doors nationwide. Reed’s Ginger Beers are unique due to the proprietary process of using fresh ginger root combined with a Jamaican inspired recipe of natural spices and fruit juices. The company uses this same handcrafted approach in its award-winning Virgil’s line of great tasting, bold flavored craft sodas. For more information, visit www.DrinkReeds.com.
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]