By Sheri Kasprzak
New York, June 4 - Reed's, Inc. closed a $4.671 million private placement.
The company issued 778,500 units at $6.00 each.
The units are comprised of one share and one warrant with each warrant exercisable at $7.50 for five years.
APS Financial Corp. was the lead agent for the offering.
Proceeds will be used for working capital and general corporate purposes.
Los Angeles-based Reed's develops a line of ice creams, candies and non-alcoholic beverages.
| Issuer: | Reed's, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $4.671 million
|
| Units: | 778,500
|
| Price: | $6.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $7.50
|
| Placement agent: | APS Financial Corp.
|
| Settlement date: | June 1
|
| Stock symbol: | OTCBB: REED
|
| Stock price: | $7.95 at close June 1
|
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