secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001493152-24-005973
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reed's closes $3.8M SAFE, amends convertible notes, plans up to $6M rights offering
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- Closed $3.8M in SAFE investments from D&D and Union Square Park to backstop planned rights offering.
- Entered Limited Waiver and Amendment with secured note holders: waives defaults and amortization payments through Mar 31, 2024.
- Note maturity extended to 2025; conversion price reset to 120% of post-rights-offering VWAP (capped at $7.50 for original notes).
- Accrued fees partially satisfied with $132,430 cash and stock at lesser of $1.50 or rights offering price.
- Planned rights offering for up to $6M gross proceeds (including SAFE); record date not yet set.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224005973/0001493152-24-005973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224005973/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-005973

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