Reed : Delisting/Failure to Satisfy Listing Rule/Transfer of Listing - Form 8-K
August 24, 2022 at 04:28 pm EDT
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 23, 2022
REED'S, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-32501
35-2177773
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
201 Merritt 7, Norwalk, CT06851
(Address of principal executive offices and zip code)
Not applicable
(Former name or former address if changed since last report)
Registrant's telephone number, including area code: (203)890-0557
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of Each Class
Trading Symbol(s)
Name of Each Exchanged on Which Registered
Common Stock, $.0001 par value per share
REED
The NASDAQ Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 3.01: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
(b) On August 23, 2022, Reed's, Inc., a Delaware corporation ("Reed's" or the "company") submitted an appeal to a hearings panel of the determination received from Nasdaq Regulation on August 16, 2022 to delist the company's securities from the Nasdaq Capital Market. The hearing is scheduled to be held September 22, 2022. The delisting action has been stayed pending a final written decision by the Nasdaq Hearing Panel.
The company will address its plan for compliance withListing Rules 5550(a)(2) (minimum bid-price of at least $1 per share) and 5550(b)(1) (stockholders' equity of at least $2,500,000) at the hearing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
REEDS, INC.,
a Delaware corporation
Dated: August 24, 2022
By:
/s/ Thomas J. Spisak
Thomas J. Spisak,
Chief Financial Officer
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Reed's Inc. published this content on 24 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2022 20:27:04 UTC.
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. 
