Reed’s Announces $10M PIPE Financing With Majority Investor D&D Source of Life Holding For 17,421,602 Shares At A Price Of $0.574/Share
Benzinga Newsdesk 3 days ago
OfferingsNews
Reed’s, Inc. (NYSE:REED) ("Reed’s" or the "Company"), owner of the nation’s leading portfolio of handcrafted, natural ginger beverages, today announced that it has entered into a securities purchase
Reed’s, Inc. (NYSE:REED) ("Reed’s" or the "Company"), owner of the nation’s leading portfolio of handcrafted, natural ginger beverages, today announced that it has entered into a securities purchase agreement with its majority investor, D&D Source of Life Holding Ltd., for the purchase and sale of 17,421,602 shares of its common stock at a purchase price of $0.574 per share in a private investment in public equity ("PIPE") financing priced in accordance with the NYSE minimum pricing rule. The gross proceeds from the offering are expected to be approximately $10.0 million, before deducting estimated offering expenses.
The closing of the PIPE is expected to occur on or about October 30, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.