Reed’s, Inc. (REED.OB) reports that it has closed on approximately $4,671,000 of subscriptions to accredited investors in connection with a private placement of its restricted securities.
Proceeds from the private placement will be used for general corporate and working capital purposes.
Christopher Reed, Founder and CEO of Reed’s, Inc, 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.”
Reed’s has had great success, penetrating the mainstream outlets, for the Industry.
Let us hear your thoughts below: