secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001493152-24-030422
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Reed's issues $6.5M of secured convertible notes at 11.13%; director Jerry Lewin resigns
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- Holders exercised option to purchase ~$6.5M Fourth Option Notes under amended 10% Secured Convertible Notes.
- Notes bear 11.13% interest, mature by Dec 15, 2024; may be prepaid with MOIC deficiency if not prepaid $1.4M.
- Temporary waiver of events of default and repurchase obligations granted under the amendment.
- Director Jerry Lewin resigned from board effective August 2, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224030422/0001493152-24-030422-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224030422/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-030422

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