secwatch.observer — SEC 8-K summary
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Issuer:     Edible Garden AG Inc (EDBL)
CIK:        0001809750
Form:       8-K
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001477932-24-006208
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edible Garden closes $5.65M public offering; repays $3.2M debt, acquires EGC lease
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- Gross proceeds $5.65M from sale of 15.7M units at $0.36; net proceeds used to repay ~$3.2M short-term debt and for growth.
- Acquired Edible Garden Corp. from Unrivaled Brands for $1.00; assumed 5-acre greenhouse lease in Belvidere, NJ with monthly payment ~$22k through Dec 2029.
- Regained compliance with Nasdaq stockholders' equity rule (Listing Rule 5550(b)(1)) via offering proceeds and debt repayment; previously notified of non-compliance in April 2024.
- Issued Class A warrants (expire 2029) and Class B warrants (expire Mar 2026) with exercise price $0.36; also Placement Agent warrants to Maxim Group.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1809750/000147793224006208/0001477932-24-006208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1809750/000147793224006208/edbl_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-006208

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