Reed's, INC 8-K filings

Reeds Inc. reports the resignation of three board members and the sale of secured promissory notes to its majority stockholder.

Reeds Inc. has appointed Sam Van, an independent director designee of D&D Source of Life Holding LTD, to its board of directors, filling an existing vacancy.

Reeds, Inc. completed a $6 million private investment in public equity (PIPE) transaction, significantly increasing D&D Source of Life Holding's ownership stake in the company.

Reeds, Inc. announced a 19% increase in net sales and a significant improvement in gross margin, leading to a lower operating loss and positive modified EBITDA for the second quarter of 2024.

Reeds Inc. has entered into an agreement to issue approximately $6.5 million in convertible notes and a board member has resigned.

Reeds Inc. has increased its board size to eight members and appointed Jerry Lewin as an independent director, fulfilling an agreement with its largest stockholder, D&D Source of Life Holding LTD.

Reeds Inc. announced improved gross profit and reduced operating losses in Q1 2024, despite a decrease in net sales, and reiterated its full-year financial outlook.

Reeds Inc. has amended its agreement with noteholders, extending waivers on defaults and amortization payments, and adjusting the maturity date of option notes.

Reeds Inc. has amended its waiver agreement with noteholders, extending deadlines for certain payments and default waivers to April 30, 2024, while also addressing the maturity date of option notes and permitted indebtedness.

Reeds Inc. announced its Q4 and full year 2023 financial results, showing improvements in operating expenses and modified EBITDA, but also significant impacts from inventory adjustments and short order shipments.

Reeds, Inc. has formalized a new compensation package for its Chief Financial Officer, Joann Tinnelly, and entered into an indemnification agreement with its directors and officers.

Reeds, Inc. has secured a $3.8 million SAFE investment, amended its secured debt, and plans a rights offering to raise up to $6 million in new equity capital.