Reed’s Inc. (NYSE American:REED) (“Reed’s” or the “Company”), owner
of one of the nation’s leading portfolios of handcrafted,
all-natural beverages, today announced that it has been informed
by John Bello, chairman of Reed’s board of directors and
founder of SoBe (sold to Pepsi in 2001 for $370 million), that he
intends to participate for up to $400,000 of the rights offering.
Chairman Bello commented, “Reed’s is ready to
re-establish its rightful place as a prominent and dominant force
in the craft beverage marketplace. We are well positioned
with on trend superior products, a committed and experienced team,
and with sufficient resources we believe that we will make Reed’s a
powerhouse sales and marketing company. Reed’s is primed for
accelerated growth and I am excited to be a part of it.”
Additional Details About the Rights
Offering:On December 11, 2017 the Company announced that
it has adjusted the subscription price and related pricing
information for its previously announced rights offering. The
subscription pricing is now fixed at $1.50 per unit, with each unit
consisting of one share of common stock and 1/2 of a warrant. Each
right entitles the holder to purchase one unit at the adjusted
fixed subscription price of $1.50 per unit, composed of one share
of common stock and 1/2 of a warrant, with each whole warrant
exercisable to purchase one share of common stock at an adjusted
exercise price of $2.025 per share for three years from the date of
issuance. The subscription rights are non-transferrable and may
only be exercised during the subscription period. The subscription
period for the rights offering commenced on December 5, 2017.
We have extended the expiration time for the rights offering to
5:00 PM Eastern Time, on Tuesday, December 19, 2017.
If exercising subscription rights through a
broker, dealer, bank or other nominee, rights holders should
promptly contact their nominee and submit subscription documents
and payment for the units subscribed for in accordance with the
instructions and within the time period provided by such nominee.
The broker, dealer, bank or other nominee may establish a deadline
before December 19, 2017, by which instructions to exercise
subscription rights, along with the required subscription payment,
must be received.
All record holders of rights that wish to
participate in the rights offering must deliver a properly
completed and signed subscription rights statement, together with
payment of the subscription price for both basic subscription
rights and any over subscription privilege election for delivery no
later than 5:00 PM Eastern Time on December 19, 2017 to the
Subscription Agent:
Continental Stock Transfer & Trust Company 1
State Street- 30th Floor New York, NY 10004 (917) 262-2378
For questions about the rights offering or
requests for copies of the prospectus, please contact Okapi
Partners, LLC, the Information Agent for the rights offering, at
(212) 297-0720 or (888) 785-6617 (TOLL FREE) or
at info@okapipartners.com.
Maxim Group LLC is acting as the dealer-manager
in the offering. Questions about the rights offering may also
be directed to Maxim Group LLC at 405 Lexington Avenue, New York,
NY 10174, Attention Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3745.
The rights offering is being made pursuant to
Reed’s effective registration statement on Form S-1 (Reg. No.
333-221059) on file with the U.S. Securities and Exchange
Commission (the “SEC”). The registration statement was declared
effective by the SEC on December 4, 2017 The registration statement
is available on the SEC’s web site at http://www.sec.gov. The
rights offering is being made only by means of a written prospectus
forming part of the effective registration statement. Copies of the
written prospectus for the rights offering may be obtained by
contacting Okapi Partners, LLC, the Information Agent for the
rights offering, at (212) 297-0720 or (888) 785-6617 (TOLL FREE) or
at info@okapipartners.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor will there be any sale of these securities in any state or
other 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.
About Reed’s, Inc.Established
in 1989, Reed’s has sold over 500 million bottles of its category
leading all-natural, handcrafted beverages. Reed’s is America’s #1
selling Ginger Beer brand and has been the leader and innovator in
the ginger beer category for decades. Virgil’s is America’s #1
selling independent, all-natural craft soda brand. The Reed’s Inc.
portfolio is sold in over 20,000 retail doors across the natural,
specialty, grocery, drug, club and mass channels nationwide.
Reed’s Ginger Beers are unique to the category because of the
proprietary process of hand brewing its award-winning products
using fresh organic ginger combined with natural spices and fruit
juices. Reed’s Ginger Beers come in three levels of increasing
ginger intensity that deliver a delicious and powerful ginger bite
and burn that can only come from fresh ginger root. The Company
uses this same handcrafted approach and dedication to the highest
quality ingredients in its award-winning Virgil’s line of great
tasting, bold flavored craft sodas.
For more information about Reed’s,
please visit the Company’s website at:
http://www.reedsinc.com or call
800-99-REEDS.
Follow Reed’s on Twitter at
http://twitter.com/reedsgingerbrew Reed’s
Facebook Fan Page at
https://www.facebook.com/reedsgingerbrew
SAFE HARBOR STATEMENT Some portions of this
press release, particularly those describing Reed’s goals and
strategies, contain “forward-looking statements.” These
forward-looking statements can generally be identified as such
because the context of the statement will include words, such as
“expects,” “should,” “believes,” “anticipates” or words of similar
import. Similarly, statements that describe future plans,
objectives or goals are also forward-looking statements. While
Reed’s is working to achieve those goals and strategies, actual
results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These risks and uncertainties include difficulty in
marketing its products and services, maintaining and protecting
brand recognition, the need for significant capital, dependence on
third party distributors, dependence on third party brewers,
increasing costs of fuel and freight, protection of intellectual
property, competition and other factors, any of which could have an
adverse effect on the business plans of Reed’s, its reputation in
the industry or its expected financial return from operations and
results of operations. In light of significant risks and
uncertainties inherent in forward-looking statements included
herein, the inclusion of such statements should not be regarded as
a representation by Reed’s that they will achieve such
forward-looking statements. For further details and a discussion of
these and other risks and uncertainties, please see our most recent
reports on Form 10-K, Form 10-Q and Form S-1, as filed with the
Securities and Exchange Commission, as they may be amended from
time to time. Reed’s undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events, or otherwise.
CONTACT: Reed's, Inc. Investor
Relations (310) 217-9400 Ext 6Email: ir@reedsinc.com
www.reedsinc.com
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