Reed's inc. announces closing of common stock and full exercise of underwriters' option to purchase additional shares

Norwalk, conn., nov. 24, 2020 (globe newswire) -- reed's inc. (nasdaq: reed), owner of the nation's leading portfolio of handcrafted, all-natural beverages, today announced it has closed its previously announced underwritten public offering of 18,750,000 shares and the full exercise of the underwriters' option to purchase an additional 2,812,500 shares. in total, the company issued 21,562,500 of its common stock at a price of $0.56 per share for gross proceeds of approximately $12.1 million. included within the total offering amount, members of reed's board of directors and senior management invested in the aggregate of approximately $625,000.
REED Ratings Summary
REED Quant Ranking