Reeds Stock Price, News & Analysis

Reed's Inc. (NASDAQ: REED), a leader in ginger beverages, has partnered with Unique Foods Inc. to boost distribution across Canada. This master agreement aims to enhance market presence for Reed's Ginger Beer and Virgil's handcrafted sodas. CEO Norman E. Snyder highlighted the demand for all-natural drinks, indicating that this partnership will broaden their consumer reach. Unique Foods, with over 25 years of experience in premium beverage distribution, is well-positioned to support Reed's growth in the Canadian market.

Reed's Inc. is launching a promotional campaign, giving away a unique Moke vehicle filled with REAL GINGER ALE, valued at over $18,000. This initiative aims to engage consumers as they enter 2021, highlighting Reed's commitment to innovative, quality beverages made with real ingredients. The sweepstakes runs until March 31, 2021, and is accessible via Facebook and Instagram. Reed's ginger ale is distinguished for using 2,000 milligrams of fresh ginger, setting it apart from competitors.

Reed’s Inc. (Nasdaq: REED) announced preliminary unaudited revenue for Q4 and full year 2020, projecting Q4 net sales at approximately $10.3 million, reflecting a 44% increase year-over-year and 22% sequential growth. For the entire year, net sales are estimated at $41.3 million, a 22% rise from $33.8 million in 2019. CEO Norman E. Snyder highlighted the brand's resilience amidst pandemic challenges, indicating strong support and future opportunities.

Reed’s Inc. (Nasdaq: REED) has successfully closed its public offering of 21,562,500 shares at $0.56 each, generating approximately $12.1 million in gross proceeds. The offering saw participation from Reed's Board and management, investing around $625,000. The funds will be used primarily to pay down $4.6 million of senior credit and $4.25 million of the Raptor Note, with the remainder allocated for working capital and corporate purposes. The CEO expressed confidence in the company's growth trajectory, stating the offering bolsters the balance sheet for future opportunities.

Reed’s Inc. (Nasdaq: REED) has announced a public offering of 18.75 million shares at $0.56 per share, aiming for gross proceeds of approximately $10.5 million. The offering includes an additional option for underwriters to purchase 2.81 million shares. The funds will be used to repay $4.6 million under a senior credit facility and $4.25 million for a secured convertible note, with remaining proceeds allocated for working capital and general corporate purposes. The offering is expected to close on November 24, 2020, pending customary conditions.

Reed’s Inc. (NASDAQ: REED) announced an underwritten public offering of common stock, with a 45-day option for underwriters to purchase additional shares. The offering's completion and terms are uncertain. Proceeds will be used to repay approximately $4.6 million under its senior credit facility and $4.0 million under the Subordinated, Convertible, Non-Redeemable Secured Note, with remaining funds allocated for working capital. Roth Capital Partners acts as the sole book-running manager. A shelf registration statement for the shares has been filed with the SEC.

Reed’s Inc. (NASDAQ: REED) announced its financial guidance for fiscal 2021, projecting net sales of $45.8 million to $46.6 million with a gross margin of 32% to 33%. This is an increase from the updated 2020 guidance of approximately $40.1 million to $40.3 million in net sales and a gross margin of about 30%. Recent retail data highlighted a remarkable 49.4% increase in sales for the Reed’s brand and 27.5% for Virgil’s in the four weeks ending October 4, 2020. Year-to-date growth stands at 33.2% for Reed’s and 23.0% for Virgil’s.

Reed’s Inc. (NASDAQ: REED) is the presenting sponsor of the inaugural World's Best Turkey Trot, a virtual running event taking place from November 25-28, 2020. Participants can engage in a 1M, 5K, or 10K race from anywhere, submitting their tracked results online. A portion of the proceeds will support the World Food Program USA. Each runner will receive a race kit that includes a finisher medal and t-shirt. Additionally, Reed’s is hosting a sweepstakes offering prizes to participants. The initiative aims to bring families together while promoting health and wellness during the holiday season.

Reed’s Inc. (NASDAQ: REED) announces its sponsorship of the inaugural World's Best Turkey Trot, a virtual race happening from November 25-28, 2020. The event includes 1M, 5K, and 10K options, encouraging families to participate from anywhere. Proceeds will support the World Food Program USA through Charity Miles. Participants will receive a race kit and have the chance to win additional prizes. The initiative aims to create a new Thanksgiving tradition while promoting wellness through Reed’s ginger products.