Reed's announced Wednesday that it has refinanced its $9.25M senior secured credit facility. The company entered into a second amendment to its senior secured facility with funds managed on behalf of Whitebox Advisors, LLC, as lenders, and Cantor Fitzgerald Securities as administrative agent and collateral agent. Under the amended Senior Secured Facility, the existing revolving credit commitments were converted into a $9.25M term loan, and the maturity date was extended to June 30, 2027, with an optional three-month extension to September 30, 2027, if certain conditions are satisfied. The term loan accrues interest at an annual rate of 8.75%, rising to 9.25% during the optional extension period, while the amendment also eliminates the unused revolving loan fee and waives the company's inventory plus accounts receivable liquidity covenant through November 6, 2026. Reed's is required under the amended facility to receive aggregate cash equity contributions of at least $10.0 million on or before November 6, 2026.
Reed's, Inc.Reed's refinanced its $9.25M senior secured facility, converting revolver commitments to a term loan and extending maturity to 2027.
