Reed's, Inc. Offers Up to $718,540 in Registered Direct Financing From Sale of $1.80 Units
05 Outubro 2009 - 7:00AM
Marketwired
Reed's, Inc. (NASDAQ: REED) announced today that it is offering in
a registered direct offering up to $718,540 through the sale of
Units at a price of $1.80 per Unit.
Reed's expects to issue up to 189 Units, consisting of 399,189
shares of Common stock, 159,676 Series A Warrants, 83,444 Series B
Warrants and 33,378 Series C Warrants. The Series B Warrants are
exercisable at any time after the closing, at an exercise price of
$1.80 per share, and will expire 60 trading days after the closing.
The Series A Warrants and Series C Warrants are exercisable at
$2.25 per share, commencing 180 days from closing for a term of
five years. If the entire offering is placed, the expected gross
proceeds at Closing will be $718,540 and the total aggregate
proceeds if all Warrants are exercised will be $1,303,110. The
expected net proceeds after fees and expenses are estimated to be
$621,057.
All of the securities will be offered pursuant to an effective
shelf registration statement. Proceeds from the transaction will be
used for general corporate purposes.
A shelf registration statement relating to the shares of common
stock and warrants issued in the offering (and the shares of common
stock issuable upon exercise of the warrants) has been filed with
the Securities and Exchange Commission (the "SEC") and has been
declared effective. This announcement is neither an offer to sell
nor a solicitation of an offer to buy any of our shares of common
stock or warrants. No offer, solicitation or sale will be made in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those
describing Reed's goals and strategies, contain "forward-looking
statements." These forward-looking statements can generally be
identified as such because the context of the statement will
include words, such as "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements
that describe future plans, objectives or goals are also
forward-looking statements. While Reed's is working to achieve
those goals and strategies, actual results could differ materially
from those projected in the forward-looking statements as a result
of a number of risks and uncertainties. These risks and
uncertainties include difficulty in marketing its products and
services, maintaining and protecting brand recognition, the need
for significant capital, dependence on third party distributors,
dependence on third party brewers, increasing costs of fuel and
freight, protection of intellectual property, competition and other
factors, any of which could have an adverse effect on the business
plans of Reed's, its reputation in the industry or its expected
financial return from operations and results of operations. In
light of significant risks and uncertainties inherent in
forward-looking statements included herein, the inclusion of such
statements should not be regarded as a representation by Reed's
that they will achieve such forward-looking statements. For further
details and a discussion of these and other risks and
uncertainties, please see our most recent reports on Form 10-KSB
and Form 10-Q, as filed with the Securities and Exchange
Commission, as they may be amended from time to time. Reed's
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
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