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NORWALK, Conn., Nov 24, 2020 (GLOBE NEWSWIRE via COMTEX) —
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.
“The success of this offering and insider participation is a testament to our collective confidence in our long-term growth potential. We are driving accelerated growth, driven by strong execution and innovation