Reed's amends Whitebox loan agreement to revise liquidity covenant
REED•REED•REED•REED•Reed's amended its senior secured credit facility with Whitebox-affiliated funds, requiring $11 million in qualified liquidity and at least $2.5 million in cash equity contributions by November 20, 2026. The delayed private placement is expected to close by then, with $7.5 million in gross proceeds received so far.
Reed's amended its senior secured credit facility with funds affiliated with Whitebox Advisors on November 6, 2026; Cantor Fitzgerald remains administrative and collateral agent. The revised covenant requires $11 million in qualified cash, inventory and receivables liquidity continuously, then at month-end following the increased liquidity period. Failure to receive at least $2.5 million in cash equity contributions between November 6 and November 20, or to pay lenders a non-refundable $25,000 extension fee by November 20, will trigger default. The delayed private placement is expected to close by November 20, with gross proceeds received so far totaling $7.5 million.
