Reed's, Inc. filed a Form 8-K on November 6, 2026, disclosing its third amendment to its Senior Secured Loan and Security Agreement with lenders affiliated with Whitebox Advisors, LLC and administrative agent Cantor Fitzgerald Securities.

Key Highlights

  • Third amendment executed: Reed's entered Amendment No. 3 to its Senior Secured Loan and Security Agreement on November 6, 2026.
  • Revised liquidity covenant: The company must maintain Cash / Inventory / AR Liquidity of not less than $11,000,000 at any time, and not less than $11,000,000 as of the last day of each month following the Increased Liquidity Period.
  • New equity contribution deadline: A new Event of Default will occur if the company fails to receive cash equity contributions of at least $2,500,000 on or prior to November 20, 2026.
  • Extension fee required: The company must pay a non-refundable extension fee of $25,000 to the lenders on or prior to November 20, 2026; failure to pay constitutes an Event of Default.
  • Private Placement proceeds received: As of the filing date, the company reported receiving gross proceeds of $7,500,000 from a previously disclosed Private Placement, with closing now expected on or prior to November 20, 2026.

Reed's Third Loan Amendment: Covenant Revisions and Private Placement Update

According to the filing, Reed's, Inc. (NYSE American:REED) executed the third amendment to its Senior Secured Loan and Security Agreement on November 6, 2026, with lenders affiliated with Whitebox Advisors, LLC and Cantor Fitzgerald Securities acting as administrative agent and collateral agent. The amendment revised the minimum liquidity covenant to incorporate Qualified Cash together with inventory and accounts receivable, requiring the company to maintain Cash / Inventory / AR Liquidity of not less than $11,000,000 at any time during the applicable period.

The filing further disclosed that the existing Event of Default tied to a required equity contribution was replaced with a new Event of Default. Under the revised terms, the company must receive aggregate cash equity contributions of at least $2,500,000 following the November 6, 2026 effective date and on or prior to November 20, 2026. Additionally, the company is obligated to pay a non-refundable extension fee of $25,000 to the lenders or their designee on or prior to November 20, 2026, with non-payment constituting an Event of Default under the Loan Agreement.

Regarding its previously disclosed Private Placement, the company reported that due to a delay in funding, the closing is now expected on or prior to November 20, 2026. The filing stated that as of the date of the Current Report, the company had received gross proceeds of $7,500,000 from the Private Placement. The company noted that all other material terms of the Loan Agreement remain unchanged and in full effect. The amendment was signed by Chief Financial Officer Douglas W. McCurdy on behalf of Reed's, Inc.

What Was Disclosed

Reed's, Inc. disclosed a third amendment to its senior secured credit facility, revising its liquidity covenant to include inventory and accounts receivable, replacing an existing equity-contribution default trigger with a new $2,500,000 deadline of November 20, 2026, and reporting $7,500,000 in gross Private Placement proceeds received to date.