Delisting Determination, The Nasdaq Stock Market, LLC, April 12, 2023,
Reeds, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common stock of Reeds, Inc., effective at the opening
of the trading session on April 24, 2023.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rule 5550(a)(2). The Company was
notified of the Staff determination on August 16, 2022.
On August 23, 2022, the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Rule 5815. A Panel hearing was held on
September 22, 2022. On September 28, 2022, upon review of the
information provided by the Company, the Panel determined to
grant the Company request to remain listed in the Exchange subject to
a series of milestones. Based on the Company failure to meet the terms
of the exception, on February 14, 2023, the Panel issued a final decision
denying the Company continued listing and notified the Company that trading
in the Company securities would be suspended on February 16, 2023.
The Company did not appeal the Panel decision to the Nasdaq Listing
and Hearing Review Council (Council) and the Council did not call
the matter for review. The Staff determination to delist the Company
became final on February 14, 2023.