Reed's to Raise $750,000 in Private Placement

Reed's, Inc. REED announced today that it has entered into a securities purchase agreement with institutional investors to purchase $750,000 of securities in a private placement transaction. Under the terms of the transaction, Reed's has agreed to sell an aggregate of 304,880 shares of its common stock at $2.46 per share and warrants to purchase up to 121,952 additional shares of its common stock. The warrants to purchase additional shares will be exercisable at an exercise price of $2.77 per share and will expire five years from the closing date.