Reed’s (NASDAQ: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, recently closed an underwritten public offering of 15,333,334 shares of common stock, including 2,000,000 additional shares due to the full exercise of the over-allotment option. The shares were sold at the public offering price of $0.375 each, resulting in gross proceeds of roughly $5.8 million. The company intends to utilize the proceeds from the offering toward working capital and for general corporate purposes. ROTH Capital Partners served as the sole manager for the offering.
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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 the company’s website at www.DrinkReeds.com.
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