Reed's, which sells branded ginger-based beverages and other drinks, filed on Wednesday with the SEC to raise up to $10 million in an initial public offering. The company is currently quoted on the OTC (REED).
The company plans to raise $10 million by offering 1.3 million shares at $7.54, the last reported sale price of its shares on the OTC. At the proposed price, the company would command a market cap of $77 million.
Reed’s is a branded beverage company offering a portfolio of 50 natural, premium and functional beverages under the Reed’s and Virgil’s brands. It sells products in over 32,000 outlets across the US and in Canada, the United Kingdom, South Africa, the Caribbean, the European Union, and the APAC region, supported by a network of seven independent co-packers and five distribution centers, and securing roughly 9,000 points of distribution. It competes in the $45 billion US carbonated soft drink market with offerings that include full-sugar and zero-sugar organic ginger ales, RTD alcoholic mules containing 7% ABV, hard ginger ales with 5% ABV, and a multi-functional soda line featuring organic ingredients.
The Norwalk, CT-based company was founded in 1991 and booked $36 million in revenue for the 12 months ended September 30, 2025. It plans to list on the NYSE American under the symbol REED. A.G.P. is the sole bookrunner on the deal.
