Reed’s Goes Public

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Natural soda maker Reed’s Inc. said Friday it has received approval to be listed on the Over the Counter Bulletin Board as of today.


The Los Angeles-based maker of Virgil’s Root Bear and other natural ginger candies and ice cream will trade on the OTCBB under the symbol REED.OB.


The listing follows the company’s completion of an $8 million public offering of 2 million shares priced at $4 per share. UE EURO Securities Inc. and Brookstreet Securities Corp. underwrote the offering.


Reed’s was founded in 1989 and its products are sold at Whole Foods, Wild Oats, Trader Joe’s Costco, Safeway, Kroger and other markets. Reed’s had sales of $9.5 million in 2005.

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