secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2024-11-19T23:59:59+00:00
Accession:  0001493152-24-046882
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224046882/0001493152-24-046882-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224046882/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-046882

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