Source-grounded facts extracted from REED'S, INC.'s SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.
Thomas J. Spisak resigned as Chief Financial Officer and Secretary at REED'S, INC..
“On March 1, 2023, Thomas J. Spisak, the Chief Financial Officer (principal financial officer) and Secretary of Reed’s, Inc., a Delaware corporation (“Reed’s or the “company”), gave notice of his resignation from the offices of Chief Financial Officer and Secretary, effective March 30, 2023.”
REED'S, INC. amended convertible notes with Wilmington Savings Fund Society, FSB.
“all of Notes were amended to increase the repayment requirement, at the option of the Holder, in the event of a Fundamental Change (as defined in the Notes) from 100% to 110%”
REED'S, INC. incurred convertible notes of $2,550,025 with Wilmington Savings Fund Society, FSB at 10% maturing June 20, 2023.
“an aggregate of approximately $2,550,025 notes (the "Option Notes," collectively with the Original Notes, the "Notes")”
REED'S, INC. amended 10% Secured Convertible Notes with holders of the notes (effective 2023-02-10).
“In addition, all of Notes were amended to increase the repayment requirement, at the option of the Holder, in the event of a Fundamental Change (as defined in the Notes) from 100% to 110%.”
REED'S, INC. entered into Limited Waiver and Deferral Agreement with Wilmington Savings Fund Society, FSB, holder representative and collateral agent (effective 2023-02-10).
“On February 10, 2023, Reed’s, Inc., a Delaware corporation (“Reed’s”), entered into a Partial Option Exercise and Second Amendment to 10% Convertible Notes (“Exercise and Amendment Agreement”) and a Limited Waiver and Deferral Agreement (“Waiver and Deferral Agreement”) with Wilmington Savings Fund Society, FSB, holder representative and collateral agent.”
REED'S, INC. entered into Partial Option Exercise and Second Amendment to 10% Convertible Notes with Wilmington Savings Fund Society, FSB, holder representative and collateral agent valued at approximately $2,550,025 notes (effective 2023-02-10).
“On February 10, 2023, Reed’s, Inc., a Delaware corporation (“Reed’s”), entered into a Partial Option Exercise and Second Amendment to 10% Convertible Notes (“Exercise and Amendment Agreement”) and a Limited Waiver and Deferral Agreement (“Waiver and Deferral Agreement”) with Wilmington Savings Fund Society, FSB, holder representative and collateral agent.”
REED'S, INC. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)(1)).
“viously disclosed, after a hearing with a Nasdaq panel on September 28, 2022, Reed’s was given until February 13, 2023 to regain compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (“Bid Price Rule”), and the $2.5 million minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(b)(1) (“Minimum Stockholders’ Equity Rule”). Reed’s achieved compliance with the Bid Price Rule after effecting a”
Christopher Burleson was appointed as Chief Commercial Officer at REED'S, INC..
“announced today the appointment of Christopher Burleson, age 41, as Chief Commercial Officer, effective February 1, 2023.”
REED'S, INC. updated its FY 2023 guidance (initiated).
“FY 2023 Financial Outlook The Company projects double-digit net revenue growth in 2023, gross margin to surpass 30%, and modified EBITDA to turn profitable by the end of the second quarter.”
REED'S, INC. reported FY 2022 results: revenue approximately $53.1 million.
“Preliminary FY 2022 Financial Highlights (vs. 2021) ● Net revenue is projected to increase 7% to approximately $53.1 million compared to $49.6 million.”
REED'S, INC. reported Q4 2022 results: revenue approximately $15.1 million.
“Preliminary Q4 2022 Financial Highlights (vs. Q4 2021) ● Net revenue is projected to increase 18% to approximately $15.1 million.”
REED'S, INC.: Reverse stock split at 1-for-50 ratio via amendment to Certificate of Incorporation, effective January 27, 2023 (effective 2023-01-27).
“On January 25, 2023, Reed’s, Inc., a Delaware corporation (“Reed’s” or the “company”) announced that its board of directors approved a 1-for-50 reverse stock split (the “Reverse Stock Split”) of the company’s issued and outstanding shares of common stock, par value $0.0001 per share. The Reverse Stock Split will become effective on Nasdaq at 12:01 a.m. Eastern Time on January 27, 2023 (the “Effective Time”), and the company’s common stock will open for trading on the Nasdaq Capital Market on a post-split basis under the company’s existing trading symbol “REED”.”
REED'S, INC. shareholders approved Approve adjournment of special meeting if necessary to solicit additional proxies at the 2023-01-24 meeting.
“Proposal to approve an adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal No. 1. FOR: AGAINST: ABSTAIN: 84,008,712 2,637,461 90,808”
REED'S, INC. shareholders approved Approve amendment to Certificate of Incorporation to effect a reverse stock split at the 2023-01-24 meeting.
“Proposal to approve an amendment to the company’s Certificate of Incorporation to effect a reverse stock split of the outstanding shares of the company’s common stock, par value $0.0001 per share, by a ratio of not less than one-for-six and not more than one-for-50 at any time on or prior to January 24, 2024, with the exact ratio to be set at a whole number within this range by our Board of Directors in its sole discretion. FOR: AGAINST: ABSTAIN: 83,055,575 3,569,557 111,849”
REED'S, INC. reported fiscal year 2022 results: revenue $56-59 million. Guidance lowered.
“of October 31, 2022, the Company had approximately $253,000 of cash. FY 2022 Financial Guidance and Outlook Reed’s expects 2022 net sales to range between approximately $56-59 million, reflecting growth of approximately 13-19% from 2021. The Company also expects gross margin in 2022 to be approximately 25% compared to 27.4% in 2021.”
REED'S, INC. reported the third quarter ended September 30, 2022 results: revenue $12.1 million, EPS $(0.03) per share.
“Net sales were $12.1 million compared to $13.4 million.”
Thomas W. Kosler was appointed as Director at REED'S, INC..
“appointed Thomas W. Kosler to serve as director, filling the vacancy created upon Rhonda Kallman’s resignation and departure, effective July 1, 2022.”
Rhonda Kallman resigned as Director at REED'S, INC..
“filling the vacancy created upon Rhonda Kallman’s resignation and departure, effective July 1, 2022.”
Rhonda Kallman resigned as Director at REED'S, INC..
“On May 28, 2022, Rhonda Kallman submitted notice of her resignation from the board of directors of Reed's Inc., a Delaware corporation (“Reed's”), effective June 30, 2022.”
REED'S, INC. reported first quarter ended March 31, 2022 results: revenue $12.2 million. Guidance reaffirmed.
“Reed’s Reports First Quarter 2022 Results Norwalk, CT, (May 16, 2022) — Reed’s, Inc. (NASDAQ: REED) (“Reed’s” or the “Company”), owner of the nation’s leading portfolio of handcrafted, all-natural ginger beverages, is reporting financial results for the three months ended March 31, 2022. Q1 2022 Financial Highlights (vs. Q1 2021): ● Net revenue increased to $12.2 million compared to $12.1 million.”
Scott R. Grossman resigned as Director at REED'S, INC..
“On October 28, 2021, Scott R. Grossman submitted notice of his intention to resign from the board of directors (“Board”) of Reed’s Inc., a Delaware corporation (“Reed’s”) and all committees of the Board on which he serves and to not stand for reelection at the Reed’s 2021 annual meeting of stockholders.”
Richard H. Hubli was terminated as Vice President of Operations at REED'S, INC..
“On July 22, 2021 Richard H. Hubli was terminated from his position as Vice President of Operations, effective immediately.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.