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REED News
REED Events
Reed's Receives Deficiency Notice from NYSE American
Reed's announced that it received a deficiency notice from NYSE American on May 29 regarding non-compliance with continued listing standards. The notification relates to stockholders' equity requirements, with the company reporting stockholders' equity of $2.7M as of March 31, alongside net losses in its five most recent fiscal years. Reed's has until June 28 to submit a compliance plan outlining actions to regain compliance by November 29, 2027, during which time its common stock will continue to trade.
Reed's Appoints Damian Warshall as COO
Reed's announced the appointment of Damian Warshall as Chief Operating Officer, effective April 27, 2026. Most recently, Warshall served as Chief Operating Officer at Pittston Co-Packers, where he led the revitalization of a large-scale beverage manufacturing facility and secured a multi-million-dollar revenue pipeline. "Damian's operational leadership and proven ability to build efficient, scalable manufacturing and supply chain systems position him well to enhance execution across our business operations," said Neal Cohane, Interim Chief Executive Officer of Reed's. "He brings a strong track record of driving operational discipline, improving cost structures and supporting profitable growth, which we believe will be critical as we continue to optimize our business. We believe his experience will be instrumental in strengthening our operational foundation, improving margins and creating long-term value for our shareholders."
Reed's Appoints Neal Cohane as Interim CEO
Reed's announced that Neal Cohane has been appointed to serve as interim CEO and member of the board of directors, effective immediately. Former CEO and board member Cyril Wallace has stepped down. The board has begun conducting a search for a permanent CEO. Most recently, Cohane was appointed by the company as chief operating officer in January. Additionally, Tina Reejsinghani has departed Reed's as chief marketing officer.
Reed's Appoints Neal Cohane as Chief Operating Officer
Reed's announced the appointment of Neal Cohane as Chief Operating Officer, effective January 5, 2026. Most recently, Cohane served as Chief Sales Officer at Eastroc Beverages and previously founded Rootstock Brands. "Neal's deep understanding of Reed's, combined with his extensive experience scaling beverage brands, makes him uniquely qualified to lead our operations as we enter our next phase of growth," said Cyril Wallace, Chief Executive Officer of Reed's. "We are excited to welcome Neal back to the executive team and confident that his leadership will help drive operational excellence and long-term value for our shareholders."
Reed's Prices Public Offering of 2.5 Million Shares, Expected to Raise Approximately $10 Million
Reed's announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock and warrants to purchase 2,500,000 shares of common stock. Each share of common stock and accompanying warrant to purchase one share of common stock are being sold together at a combined public offering price of $4.00. The warrants will have an exercise price of $4.50 per share, will be exercisable immediately and will expire five years from the issuance date. In addition, Reed's has granted the underwriters a 45-day option to purchase up to an additional 375,000 shares of common stock and/or 375,000 warrants at their respective public offering prices, less underwriting discounts and commissions. All of the Securities are being sold by Reed's. The gross proceeds from the offering are expected to be approximately $10M, before deducting underwriting discounts and commissions and other offering expenses, excluding any exercise of the underwriters' option to purchase additional Securities and any exercise of the warrants to be issued in the offering. The offering is expected to close on or about December 8, subject to customary closing conditions. Reed's also announced that, in connection with the offering, its common stock has been approved for listing and will begin trading on the NYSE American stock exchange on December 5. Upon effectiveness of the listing on the NYSE American, trading of the common stock on the OTC Markets' OTCQX Best Market will terminate. A.G.P./Alliance Global Partners is acting as the sole book-running manager, and Roberts & Ryan is acting as a co-manager for the offering.
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