Edible Garden AG Inc (EDBL): debt financing — Edible Garden sells $2.04M future receivables for net $1.435M; prepays Cedar Advance at discount

Edible Garden AG Inc

Sold $2,040,000 of future receivables to Arin Funding for $1,500,000 less $65,000 fees, netting $1,435,000.
Used portion of proceeds to prepay Cedar Advance; balance reduced from $1,373,285 to $1,263,422.
Weekly ACH debits of $63,750 (20% of collections) until $2,040,000 paid in full.
Granted Arin a security interest in all accounts, receivables, and related collateral.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Edible Garden AG Inc incurred debt of $2,040,000 with Arin Funding LLC maturing until the $2,040,000 due to Arin under the Agreement is paid in full.

Principal: $2,040,000
Counterparty: Arin Funding LLC
Maturity: until the $2,040,000 due to Arin under the Agreement is paid in full
Event: incurrence

Exact text from the filing

On April 2, 2025, Edible Garden AG Incorporated (the “Company”) entered into a standard merchant cash advance agreement (the “Agreement”) with Arin Funding LLC (“Arin”), dated as of April 1, 2025, pursuant to which the Company sold to Arin $2,040,000 of its future accounts receivable for a purchase price of $1,500,000, less fees and expenses of $65,000, for net funds provided of $1,435,000.

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Edible Garden AG Inc filing history →

Source: SEC EDGAR

accession 0001477932-25-002434

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