Reed's Prices $10 Million Offering of Stock, Warrants; Uplists to NYSE American

MT Newswires Live12-05 22:11

Reed's (REED) said Friday it priced an underwritten public offering of common shares and warrants to raise gross proceeds of $10 million.

The offering includes 2.5 million shares and warrants to purchase 2.5 million shares priced at $4 per share and accompanying warrant. The warrants have an exercise price of $4.50, can be exercisable immediately and will expire in five years, the company said.

Underwriters have a 45-day option to purchase up to 375,000 additional shares and/or 375,000 warrants.

The offering is expected to close on Monday.

Reed's also said its common stock has been approved to list and will begin trading on the NYSE American on Friday, ending its "OTCQX" listing.

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