Edible Garden has announced the pricing of a public offering of an aggregate of 2,655,000 shares of its common stock (or pre-funded warrants in lieu thereof), Class A warrants to purchase up to 2,655,000 shares of common stock, and Class B warrants to purchase up to 2,655,000 shares of common stock, at a combined public offering price of $2.26 per share (or $2.25 per pre-funded warrant) and accompanying warrants. The warrants will have an exercise price of $2.26 per share, will be exercisable immediately upon issuance. The Class A warrants will expire on the fifth anniversary of the original issuance date, and the Class B warrants will expire on the eighteen-month anniversary of the original issuance date. The closing of the offering is expected to occur on or about May 23, 2024, subject to the satisfaction of customary closing conditions. Gross proceeds, before deducting placement agent fees and offering expenses, are expected to be approximately $6.0 million.
Maxim Group LLC is acting as sole placement agent in connection with this offering.
The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-278967), which was declared effective by the Securities and Exchange Commission (the "SEC") on May 22, 2024. The offering is being made only by means of a prospectus which is a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering, when available, will be filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.
For more information:
Edible Garden
283 County Road 519
Belvidere, NJ 07823
Tel.: (844) 344-3727
www.ediblegarden.com