Reed's enters $10M revolver at 8%; majority holder exchanges notes for 22.5M shares, 87.8% ownership

REED'S, INC.

New $10M revolving credit facility from Whitebox affiliates at 8% interest; $6.57M used to repay existing ABL with Alterna Capital.
Majority stockholder D&D exchanged all convertible notes for 22.5M shares, boosting its ownership to 87.8%.
D&D subordinated its notes and amended terms, extending maturity to May 2026 and waiving defaults.
Reed's pledged intellectual property as collateral for the new facility.

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