Reed announced today that it has finished collecting approximately $4.3 million in additional subscriptions from accredited investors. In June of 2007, the company closed on subscriptions approximately amounting to $4.7 million. These two amounts total to $9.0 million.
APS Financial Corporation, Texas-based securities and investment banking firm, was instrumental in connecting Reed with the financing. The funds from the private placement will be used to grow the company and for general corporate and working capital purposes.
The Founder and CEO of Reed’s, Inc., Christopher Reed, stated, “We are thrilled by the level of interest the capital markets have demonstrated in Reed’s. We believe the interest is indicative of the strong growth prospects for the Reed’s brand as we continue to generate increased brand awareness through marketing programs and additional points of distribution. The additional financing will allow us to further accelerate our future growth plans which include expanding and enhancing our product portfolio, launching additional product categories and expanding points of distribution beyond natural food accounts to the mainstream marketplace.”
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