Edible Garden prices $3.0M public offering of 2.7M units at $1.10/unit

Edible Garden AG Inc

Priced 2,700,726 units at $1.10/unit, each with one share and one warrant (exercise $1.10, 5-year term).
Gross proceeds ~$3M; underwriters have 45-day option for up to 405,108 additional shares/warrants.
Maxim Group LLC sole book-runner; offering closed Sept 8, 2023. Representative warrants for 135,036 shares at $1.21.
Company and insiders subject to 90-day lock-up; underwriter has 12-month right of first refusal on future offerings.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Edible Garden AG Inc entered into Underwriting Agreement with Maxim Group LLC valued at approximately $3 million (effective 2023-09-07).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: approximately $3 million
Effective: 2023-09-07

Exact text from the filing

On September 7, 2023, Edible Garden AG Incorporated (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Maxim Group LLC, as underwriter (the “Representative”), for an underwritten public offering (the “Offering”) of an aggregate of 2,700,726 units (the “Units”) consisting of one share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock (each a “Warrant” and collectively, the “Warrants”) at an exercise price equal to $1.10 per share of Common Stock.

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119 material agreements filed in the last 30 days. Browse all material agreements →

Edible Garden AG Inc filing history →

Source: SEC EDGAR

accession 0001477932-23-006788

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