After spiking higher Tuesday, Reed's, Inc. REED shares are trading lower after the company announced a common stock offering of 6.68 million shares at $1.18 per share. The expected proceeds is $7.9 million.
Reed's, Inc. develops, manufactures, and sells natural hand-crafted beverages in the craft specialty foods industry in the United States, Canada, Asia, Europe, Australia, and South America.
Reed's shares were trading 22.2% lower at $1.12 per share on Wednesday at the time of publication. The stock has a 52-week high of $1.68 and a 52-week low of $0.56.
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