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The latest announcement is out from Reed’s (REED).
Reed’s, Inc. successfully amended their financing strategy by entering into an Exercise and Amendment Agreement, allowing the holders of its 10% Secured Convertible Notes to purchase additional notes valued at approximately $6.5 million. These notes carry an 11.13% annual interest rate, mature by December 15, 2024, and feature a unique provision that ensures a minimum return for investors. Additionally, the company experienced a change in its leadership as Jerry Lewin stepped down from the board of directors.
For an in-depth examination of REED stock, go to TipRanks’ Stock Analysis page.
