secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2024-09-13T23:59:59+00:00
Accession:  0001493152-24-036242
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 5.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reed's closes $6M PIPE; D&D becomes 55.4% owner, change in control triggered
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- PIPE of 4 million shares at $1.50 per share raises $6M; led by D&D Source of Life Holding.
- D&D invested $1.9M cash and converted $3M SAFE; now holds 55.4% of common stock (assuming warrant exercise).
- D&D already held 31.5% pre-PIPE; change in control triggered under Item 5.01.
- Proceeds to be used for general working capital and corporate purposes.
- D&D retains director designation rights; Shufen Deng remains Vice Chairman and controls D&D's shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224036242/0001493152-24-036242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224036242/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-036242

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