On July 7, 2023, Leon M. Zaltzman resigned from the board of directors of Reed’s, Inc. The resignation was effective upon acceptance by the board on July 7, 2023. Moving forward, Mr. Zaltzman, who is the managing member of Union Square Park Capital Management, LLC, a significant shareholder of Reed’s, will be permitted to attend meetings of the board as a board observer. On July, 7, 2023, upon recommendation from the governance committee of the board, the board elected Shufen Deng to serve as a director to fill the vacancy created on the board by Mr. Zaltzman’s resignation.
Mrs. Deng is the sole shareholder and sole director of D&D Source of Life Holding Ltd. (“D&Dâ€), the company’s largest shareholder, beneficially holding approximately 31.1% of Reed’s common stock.
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. 
