Reed’s Announces Closing of $10.0 Million Private Placement
Summary
The additional capital will support our efforts to invest in personnel and marketing resources, pursue accretive M&A opportunities and strategic partnerships, and expand internationally, all of which we believe will accelerate our growth. With a strengthened balance sheet and optimized cost structure, we are looking forward to executing on our goal of returning Reeds to sustainable growth and profitability in 2025.For more information, please reference the Companys 8-K filed today, January 6, 2025, with the Securities and Exchange Commission.Reeds is an innovative company and category leader that provides the world with high quality, premium and naturally bold better-for-you beverages. Sought after by beverage aficionados, Flying Cauldron is made with natural ingredients and no artificial flavors, sweeteners, preservatives, gluten, caffeine, or GMOs.For more information, visit drinkreeds.com, virgils.com and flyingcauldron.com. These forward-looking statements are typically identified by terms such as "estimate," "expect, intend, "project," "will," plan, and similar expressions. The risks and uncertainties include, but are not limited to: inventory shortages; risks associated with new product releases; the impacts of further inflation; risks that customer demand may fluctuate or decrease; risks that we are unable to collect unbilled contractual commitments, particularly in the current economic environment; our ability to compete successfully and manage growth; our significant debt obligations; our ability to develop and expand strategic and third party distribution channels; our dependence on third party suppliers, brewers and distributors; third party co-packers meeting contractual commitments; risks related to our international operations; our ability to continue to innovate; our strategy of making investments in sales to drive growth; increasing costs of fuel and freight, protection of intellectual property; competition; general political or destabilizing events, including the wars in Ukraine and Israel, conflict or acts of terrorism; financial markets, commodity and currency impacts of the wars; the effect of evolving domestic and foreign government regulations, including those addressing data privacy and cross-border data transfers; and other risks detailed from time to time in Reeds public filings, including Reeds annual report on Form 10-K filed on April 1, 2024, which is available on the Securities and Exchange Commissions web site at www.sec.gov.