Edible Garden sells $2.485M receivables for $1.75M cash advance from Cedar Advance

Edible Garden AG Inc

Purchase price $1.75M for $2.485M future receivables; net proceeds $1.6625M after $87.5K fees.
$523,150 used to retire prior Cedar Advance obligation; net cash to company $1.139M.
Weekly payments of 25% of collections, estimated $65,395 per week until $2.485M paid.
Company granted Cedar security interest in all accounts, receivables, and deposit accounts.

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