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Reed's, Inc. (REED)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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0.5900-0.0249 (-4.05%)
At close: 4:00PM EST

0.6000 +0.01 (1.69%)
After hours: 4:37PM EST

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Neutralpattern detected
Previous Close0.6149
Open0.6300
Bid0.5900 x 1100
Ask0.5951 x 1300
Day's Range0.5750 - 0.6300
52 Week Range0.3600 - 1.6400
Volume2,323,616
Avg. Volume372,961
Market Cap37.151M
Beta (5Y Monthly)1.63
PE Ratio (TTM)N/A
EPS (TTM)-0.2010
Earnings DateNov 09, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.00
  • Reed’s Inc. Prices Underwritten Public Offering of Common Stock
    GlobeNewswire

    Reed’s Inc. Prices Underwritten Public Offering of Common Stock

    NORWALK, Conn., Nov. 20, 2020 (GLOBE NEWSWIRE) -- Reed’s Inc. (Nasdaq: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, today announced the pricing of an underwritten public offering of 18,750,000 shares of its common stock at a price of $0.56 per share for gross proceeds of approximately $10.5 million. Reed’s has also granted to the underwriter a 45-day option to purchase an additional 2,812,500 shares of common stock to cover overallotments in connection with the offering. The offering is expected to close on November 24, 2020, subject to customary closing conditions. Roth Capital Partners is acting as sole book-running manager for the offering. National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ:NHLD) is acting as co-manager.Reed’s intends to use the net proceeds of the offering for the repayment of approximately $4.6 million under its senior credit facility and approximately $4.25 million for the repayment of its Subordinated, Convertible, Non-Redeemable Secured Note (the “Raptor Note”) in favor of Raptor/ Harbor Reeds SPV, LLC originally issued April 21, 2017. Reed’s intends to use the remaining proceeds to fund working capital and for general corporate purposes. In addition Raptor/ Harbor Reeds SPV, LLC has agreed that the remaining approximately $750,000 outstanding under the Raptor Note will be satisfied by issuance of approximately 1,339,286 shares of Reed’s common stock in a private placement transaction at the public offering price.A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the "SEC") and is effective. 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. Copies of the prospectus supplement and accompanying base prospectus will be filed with the Securities and Exchange Commission and, when available, may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, by telephone at (800) 678-9147 or by accessing the SEC's website, www.sec.gov.Safe Harbor / Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed public offering and the intended use of proceeds from the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of our business and other risks detailed from time to time in our filings with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. Reed’s does not assume any obligation to update any forward-looking statements.CONTACT: Investor Relations Scott Van Winkle, ICR (800) 997-3337 Ext 2 Or (617) 956-6736 Email: ir@reedsinc.com www.reedsinc.com www.reedsinc.com

  • Reed’s Inc. Announces Proposed Public Offering of Common Stock
    GlobeNewswire

    Reed’s Inc. Announces Proposed Public Offering of Common Stock

    NORWALK, Conn., Nov. 19, 2020 (GLOBE NEWSWIRE) -- Reed’s Inc. (NASDAQ: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, today announced that it intends to offer shares of its common stock in an underwritten public offering. Reed’s also expects to grant to the underwriters of the offering a 45-day option to purchase additional shares of common stock offered in the underwritten public offering on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Roth Capital Partners is acting as sole book-running manager for the offering. National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ:NHLD) is acting as co-manager.Reed’s intends to use the net proceeds of the offering for the repayment of approximately $4.6 million under its senior credit facility and approximately $4.0 million for the repayment of its Subordinated, Convertible, Non-Redeemable Secured Note (the "Raptor Note") in favor of Raptor/ Harbor Reeds SPV, LLC originally issued April 21, 2017. Reed’s intends to use the remaining proceeds to fund working capital and for general corporate purposes. In addition Raptor/ Harbour Reeds SPV, LLC has agreed that the remaining approximately $1.0 million outstanding under the Raptor Note will be satisfied by issuance of approximately $1.0 million in shares of Reed’s common stock  in a private placement transaction at the public offering price. A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the "SEC") and is effective. 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. Copies of the preliminary prospectus supplement and accompanying prospectus will be filed with the Securities and Exchange Commission and, when available, may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, by telephone at (800) 678-9147 or by accessing the SEC's website, www.sec.gov.Safe Harbor / Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed public offering and the intended use of proceeds from the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of our business and other risks detailed from time to time in our filings with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.CONTACT: Investor Relations Scott Van Winkle, ICR (617) 956-6736 Email: ir@reedsinc.com www.reedsinc.com

  • Reed’s Inc. Provides Fiscal 2021 Guidance
    GlobeNewswire

    Reed’s Inc. Provides Fiscal 2021 Guidance

    NORWALK, Conn., Nov. 19, 2020 (GLOBE NEWSWIRE) -- Reed’s Inc. (NASDAQ: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, today provided financial guidance for fiscal 2021 and detail on recent syndicated third-party retail sell-through data. The Company is providing fiscal 2021 net sales guidance of $45.8 million to $46.6 million and a gross margin of 32% to 33%. This guidance follows updated fiscal 2020 guidance for approximately $40.1 million to $40.3 million of net sales and a gross margin of approximately 30%, which was previously announced.The Company is also providing recent syndicated retail sell-through data. According to data from IRI, sales at retail for the four weeks ended October 4, 2020 increased 49.4% for the Reed’s brand and 27.5% for the Virgil’s brand. Year-to-date IRI data indicates 33.2% growth of the Reed’s brand and 23.0% for the Virgil’s brand. Additionally, ACV, a measure of distribution, has increased 7.4% to 39.1 points and velocity is up 8 units, or 34.7%, while pricing remains strong increasing 9.1% year over year.About Reed’s, Inc. Established in 1989, Reed's® is America's number 1 name in Ginger and America’s best-selling Ginger Beer brand and innovator for decades. Virgil's™ is America's best-selling independent, full line of natural craft sodas. The Reed's® portfolio is sold in over 40,000 retail doors nationwide. Reed's core product line of Original, Extra and Strongest Craft Ginger Beers, along with the Certified Ketogenic Zero Sugar Extra Ginger Beer 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 and Certified Ketogenic Zero Sugar Varieties.For more information about Reed’s, please visit the Company’s website at: http://www.drinkreeds.com or call 800-99-REEDS. Follow Reed’s on Twitter, Instagram, and Facebook @drinkreeds.For more information about Virgil’s, please visit Virgil’s website at: http://www.virgils.com. Follow Virgil’s on Twitter and Instagram @drinkvirgils and on Facebook @drinkvirgilssoda.Safe Harbor / Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as the Company’s guidance for 2021 net sales and gross margin. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of our business and other risks detailed from time to time in our filings with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.CONTACT: Investor Relations Scott Van Winkle, ICR (617) 956-6736 Email: ir@reedsinc.com www.reedsinc.com