Jones Soda (JSDA) Signs Letter Of Intent To Be Acquired By Reeds (REED)
Posted in: News, Short Ideas, Small Cap Analysis, M&A, Pre-Market Outlook, Intraday Update, Markets, Movers, Trading Ideas
Jones Soda (NASDAQ: JSDA) has signed a letter of intent to be acquired by Reed's (NASDAQ: REED) early this morning.
The deal roughly valued at $0.37/share (composed of $0.10 cash and .17 shares of REED stock for every share of JSDA stock held is about 57% below yesterday's closing price of $0.85/share.
The $.37/share is roughly equal to a buyout offer Jones Soda received earlier this year.
So long Jones Soda, it has been a wild 10 years! Pre market trading puts shares of the company in the $.50 range.
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