Stryve Foods, Inc. Announces Pricing of $2.9 Million Public Offering Priced At-Market According to Nasdaq Rules

Core Viewpoint - Stryve Foods, Inc. has announced a public offering of shares and warrants to raise approximately $2.9 million for working capital and general corporate purposes, with the offering priced at $0.79 per share [1][3]. Group 1: Offering Details - The public offering consists of 3,670,886 shares of Class A common stock and warrants to purchase up to 7,341,722 additional shares at a combined price of $0.79 per share [1]. - Each share is sold with two warrants, each allowing the purchase of one share of Class A common stock, with an exercise price of $0.79 per share [1]. - The offering is expected to close around November 12, 2024, pending customary closing conditions [1]. Group 2: Amendments and Agents - The company will amend existing warrants to reduce the exercise price from $54.00 to $0.79 per share, subject to stockholder approval [2]. - Roth Capital Partners and Northland Capital Markets are acting as co-placement agents for the offering [2]. Group 3: Use of Proceeds - The gross proceeds from the offering are anticipated to be $2.9 million before deducting fees and expenses, which will be used for working capital and general corporate purposes [3]. Group 4: Company Overview - Stryve Foods is a leader in the air-dried meat snack industry in the U.S., offering products that are high in protein and low in sugar, marketed under various brand names [6]. - The company aims to disrupt traditional snacking categories with its healthy products, which are free from sugar, gluten, and preservatives, making them suitable for Keto and Paleo diets [6][8]. - Stryve distributes its products through major retail channels and directly to consumers via e-commerce platforms [7].