Reed's, Inc. (NASDAQ: REED) (NASDAQ: REEDR), maker of the
top-selling sodas in natural food stores nationwide, announced
today that its previously announced rights offering of Series B
Convertible Preferred Stock (convertible at $2 per share and
carries a five percent (5%) annual dividend for a term of 3 years)
began trading ex-rights on November 10, 2009. The Rights are
trading under the symbol REEDR. The Rights will trade until the
close of the NASDAQ stock market on December 9, 2009. The Rights
will subsequently expire on December 14, 2009.
Form 424B4 Prospectus available at the following site:
http://sec.gov/Archives/edgar/data/1140215/000101968709004138/0001019687-09-004138-index.htm
Reed's shareholders are encouraged to check with their brokers
as they should have already received their rights issued into their
accounts. Shareholders should begin receiving additional
information through the mail by means of a prospectus. Investor or
shareholders with any questions should contact MacKenzie Partners,
Inc., via email at reedrights@mackenziepartners.com or via phone at
(800) 322-2885, collect at (212) 929-5500 or Andrew Haag at Reed's
investor relations firm IRTH Communications at 1-866-976-IRTH
(4784).
Mr. Chris Reed, Founder, Chairman and CEO of Reed's, Inc.,
stated that, "This rights offering is the Company giving our
shareholders first right to subscribe for corporate financing that
is typically only available to institutional or accredited
investors and Wall Street insiders. Rights offerings are widely
utilized financing instruments in Europe and we consider it a great
practice." He continued, "Here in the U.S., opportunities to
participate in company financing transactions and new share
issuances are usually only given to a select few." He ended, "At
Reed's, we have always felt it is a best practice to give the
shareholders, customers and individual investors a chance at a
financing the company and benefiting from the future growth of the
company."
Important Dates
Last Day to Buy Stock and Receive Rights November 09, 2009(1)
Shares Trade Ex-Rights November 10, 2009
Record Date November 13, 2009
Subscription Period From November 16, 2009 to
December 14, 2009(2)
Rights Eligible for Trading November 17, 2009
Last Day Rights May Be Traded December 9, 2009(2)
Expiration Date December 14, 2009(2)
(1) Assumes three-day settlement.
(2) Unless the offering is extended.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor there any
sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. The
securities may only be offered by means of a prospectus, additional
copies of which may be obtained, when available, by contacting the
information agent, MacKenzie Partners, Inc., at 105 Madison Avenue,
New York, NY 10016, toll-free: (800) 322-2885, collect: (212)
929-5500, or via email at reedrights@mackenziepartners.com.
About Reed's, Inc.
Reed's, Inc. makes the top selling sodas in natural food markets
nationwide and is currently selling in 10,500 supermarkets in
natural foods and mainstream. Its six award-winning non-alcoholic
Ginger Brews are unique in the beverage industry, being brewed, not
manufactured and using fresh ginger, spices and fruits in a brewing
process that predates commercial soft drinks.
In addition, the Company owns the top selling root beer line in
natural foods, the Virgil's Root Beer product line, and the top
selling cola line in natural foods, the China Cola product line.
Recently, Reed's added the Sonoma Sparkler brands to its line, a
celebration drink with an established customer base. Other product
lines include: Reed's Ginger Candies and Reed's Ginger Ice
Creams.
Reed's products are sold through specialty gourmet and natural
food stores, mainstream supermarket chains, retail stores and
restaurants nationwide, and in Canada. For more information about
Reed's, please visit the company's website at:
http://www.reedsgingerbrew.com or call 800-99-REEDS.
Follow Reed's on Twitter at:
http://www.twitter.com/reedsgingerbrew
Reed's Facebook Fan Page at:
http://www.facebook.com/pages/Reeds-Ginger-Brew-and-Virgils-Natural-Sodas/57143529039?ref=nf
Subscribe to Reed's RSS feed at:
http://www.irthcommunications.com/REED_rss.xml
More information can be found at:
http://www.irthcommunications.com/clients_REED.php
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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Contact: Andrew Haag Managing Partner IRTH Communications, LLC
1-866-976-IRTH (4784) Email Contact
http://www.irthcommunications.com
http://www.twitter.com/irthcomm
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