Reed’s announced that it has raised approximately $4,671,000 through a private placement of its restricted securities to accredited investors. The company plans to use the proceeds for general corporate and working capital purposes.
The CEO and Founder of Reed’s, Christopher Reed, stated, “We have made tremendous strides since our IPO in December of 2006 and this financing provides us with the additional capital resources necessary to expand our growth strategy. Specifically, we will utilize the proceeds to ramp our sales force expansion efforts, increase our marketing programs and further invest in our infrastructure to meet the growing demand for Reed’s portfolio of products.”
In closing he commented, “We continue to be pleased with the acceptance of the Reed’s brand within mainstream market place and look forward to further expansion of our core product lines within new and existing markets.”
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