secwatch.observer — SEC 8-K summary
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Issuer:     Edible Garden AG Inc (EDBL)
CIK:        0001809750
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001477932-24-002562
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edible Garden sells additional $994K in future receivables for $700K; total financing $2.49M
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- Agreement with Cedar Advance: $994K in future accounts receivable sold for $700K; net after $87.5K fees is $544.25K additional.
- Total financing now $2.485M receivables sold for $1.544M net; weekly payments of $65K (35% of collections) until repaid.
- Amends and restates prior March 12, 2024 agreement; terms include 35% Specified Percentage and $65K weekly estimated payment.
- Funds used for general corporate purposes; the transaction is not a loan but a sale of future receivables.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1809750/000147793224002562/0001477932-24-002562-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1809750/000147793224002562/edbl_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-002562

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