Reed's inc.® announces closing of $5.4 million private placement

Norwalk, conn., march 14, 2022 (globe newswire) -- reed's, inc.® (nasdaq:reed) (“reed's” or the “company”), owner of the nation's leading portfolio of handcrafted, all-natural ginger beverages, today announced the closing of its previously announced private placement with certain institutional and accredited investors of 18,594,571 shares of common stock and warrants to purchase up to an aggregate of 9,297,289 shares of common stock, for an aggregate gross proceeds of $5.4 million, before deducting the placement agent's fees and other offering expenses payable by the company. officers and directors of the company purchased approximately $1.1 million of the securities in the offering.
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