secwatch.observer — SEC 8-K summary
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Issuer:     Edible Garden AG Inc (EDBL)
CIK:        0001809750
Form:       8-K
Filed at:   2025-09-05T23:59:59+00:00
Accession:  0001477932-25-006533
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edible Garden enters $1.75M secured note agreement with Avondale Capital
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- Original principal $1.75M; net proceeds $1.395M after $350K OID and $5K transaction expenses.
- Weekly payments of $43,750; no interest unless default, then 22% per annum.
- Note secured by cash, accounts receivable, and other receivables.
- Proceeds to repay Arin Funding LLC merchant cash advance and for working capital.
- Most Favored Nation clause gives Avondale right to match more favorable terms in future debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1809750/000147793225006533/0001477932-25-006533-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1809750/000147793225006533/elbl_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-006533

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