Reed’s Inc (REED) has released an update.
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Reed’s, Inc. successfully raised $3.8 million through SAFE investments with key stockholders to support an upcoming public offering aimed at generating up to $6 million. The funds will act as security for subscription rights offered to current stockholders. Additionally, Reed’s negotiated a Waiver and Amendment agreement with note holders to address defaults, defer payments, and adjust terms like conversion prices and maturity dates to align with the company’s financing strategy. These financial maneuvers highlight Reed’s proactive steps to strengthen its capital structure and secure its financial future.
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