REED'S, INC. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)
April 10, 2020 at 05:17 pm EDT
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
The Nasdaq Listing Qualifications Department notified Reed's Inc., a Delaware
corporation ("we", "us") on April 9, 2020 that the bid price of our common stock
has closed at less than $1 per share over the previous 30 consecutive business
days, and, as a result, did not comply with Listing Rule 5550(a)(2) ("Bid Price
Rule"). Therefore, in accordance with Listing Rule 5810(c)(3)(A), we are being
provided 180 calendar days, or until October 6, 2020, to regain compliance with
the Bid Price Rule. If, at any time before October 6, 2020 the bid price of our
common stock closes at $1.00 per share or more for a minimum of 10 consecutive
business days, Nasdaq staff will provide written notification that it has
achieved compliance with the Bid Price Rule.
If we fail to regain compliance with the Bid Price Rule before October 6, 2020
but meet all of the other applicable standards for initial listing on the Nasdaq
Capital Market with the exception of the minimum bid price, we may be eligible
for additional time. To qualify, we would be required to meet the continued
listing requirement for market value of publicly held shares and all other
initial listing standards for the Nasdaq Capital Market, with the exception of
the bid price requirement, and would need to provide written notice of our
intention to cure the deficiency during the second compliance period, by
effecting a reverse stock split, if necessary.
Reedâs, Inc. owns a portfolio of handcrafted, natural beverages, which sells in over 45,000 outlets nationwide. These outlets include the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, liquor stores, and on-premises locations including bars and restaurants. The Company provides craft beverages under the Reedâs, Virgilâs, and Flying Cauldron brand names. Reedâs portfolio includes ginger beers, ginger ales, ready-to-drink ginger mules and hard ginger ales. The Virgil's brand offers an array of flavored sodas, including Root Beer, Vanilla Cream, Black Cherry, Orange Cream, and more. These flavors are also available in six zero-sugar varieties. Flying Cauldron is a non-alcoholic butterscotch beer. Reedâs Craft Ginger Beer line includes varieties with a mix of bottles and cans, including Reedâs Original Ginger Beer, Reedâs Premium Ginger Beer, Reedâs Extra Ginger Beer, Reedâs Strongest Ginger Beer, and others.
REED'S, INC. 
