secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001493152-23-005039
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.03, 3.01, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

Reed's delisted from Nasdaq; issues additional $2.55M in convertible notes
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- Received delisting notice from Nasdaq; trading suspended from Nasdaq Capital Market effective Feb 16, 2023.
- Plan to trade on OTCQX under symbol 'REED' starting Feb 16, 2023.
- Entered agreement to issue ~$2.55M in 10% convertible notes due June 20, 2023; also issued 82,438 shares as inducement.
- Notes amended to increase fundamental change repurchase price to 110%; holders temporarily waived certain defaults.
- Board chose not to pursue capital raise to meet minimum equity rule; previously achieved bid price compliance with reverse split.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315223005039/0001493152-23-005039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315223005039/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-005039

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer