Reed's closes $5.6M financing with $4.1M PIPE and $1.5M note extension

On May 25, 2023, Reed’s, Inc., a Delaware corporation (“ Reed’s ” or the “ company ”) entered into a Securities Purchase Agreement (“ Purchase Agreement ”) with D&D Source of Life Holding Ltd., as the lead investor, and certain of Reed’s affiliates pursuant to which the investors agreed to purchase, and Reed’s agreed to issue and sell to the investors, in a private placement, an aggregate of 1,566,732 shares (“ Shares ”) of Reed’s common stock, $0.0001 par value (“ Common Stock ”), and warrants (“ Warrants” ) to purchase 313,346 shares of Common Stock (the “ Private Placement ”).