Edible Garden raises $3.5M via warrant inducement; issues new warrants at $3.50

Edible Garden AG Inc

Existing warrants (999,600 shares) exercised at reduced price of $3.50; original price $9.00.
Gross proceeds of approx $3.5M from cash exercise of existing warrants.
Company issued new unregistered 5-year warrants for up to 1,999,200 shares at $3.50/share.
Company must file resale registration for new warrant shares within 30 days.
Five-day ban on new equity issuances; 15-day ban on variable rate deals after closing.

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