Edible Garden enters ATM equity agreement to sell up to $1.15M in common stock

Edible Garden AG Inc

Agreement with Maxim Group LLC for at-the-market sales of common stock up to $1,146,893.
Agent commission is 3.5% of gross proceeds; company also reimburses up to $40,000 in legal fees.
Offering under existing shelf registration (Form S-3; File 333-273209); no obligation to sell.
Agreement terminates Feb 6, 2025, or earlier upon completion of sales or termination by either party.

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 Equity Distribution Agreement with Maxim Group LLC valued at aggregate offering price of up to $1,146,893 (effective 2024-02-06).

Action: entry
Agreement: atm program
Counterparty: Maxim Group LLC
Value: aggregate offering price of up to $1,146,893
Effective: 2024-02-06

Exact text from the filing

On February 6, 2024, Edible Garden AG Incorporated (the “Company”) entered into an Equity Distribution Agreement (the “Agreement”) with Maxim Group LLC, as sales agent (the “Agent”), pursuant to which the Company may, from time to time, issue and sell shares (the “Shares”) of its common stock, par value $0.0001 per share, through the Agent in an at-the-market offering for an aggregate offering price of up to $1,146,893.

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Edible Garden AG Inc filing history →

Source: SEC EDGAR

accession 0001477932-24-000572

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