News Published on 9 Mar
Reed’s to buy Jones Soda; CEO Ricci will step down
Filed by Shaun Weston
Reports suggest that Jones Soda Co has signed a letter of intent to be acquired by Reed’s Inc.
© Travis Bell/Flickr
The offer from Reed’s values Jones at about $9.7m, or 37 cents a share, based on Reed’s Monday close of $1.58. According to Reuters, that’s a discount of 56% to Jones’ Monday close.
Reed’s and Jones have until 5 April to negotiate a definitive agreement on an exclusive basis.
Jones Soda has revealed that its current chief executive, Joth Ricci, will step down from 2 April.
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