Edible Garden Enters into Warrant Exercise Transaction for $4.2 Million in Gross Proceeds

Core Viewpoint - Edible Garden AG Incorporated has entered into a warrant exercise agreement with an accredited investor, resulting in the immediate exercise of existing warrants for cash and the issuance of new unregistered warrants to purchase additional shares of common stock [1][2]. Group 1: Warrant Exercise Agreement - The company has agreed to exercise 2,021,571 shares of common stock through existing warrants, with the exercise price reduced to $2.06 per share, matching the most recent closing price [1][2]. - The proceeds from this exercise are expected to be approximately $4.2 million before fees and expenses [2]. Group 2: New Warrants - The new warrants allow the purchase of an aggregate of 4,043,142 shares of common stock at the same exercise price of $2.06 per share and will expire five years from the issuance date [2]. - These new warrants were offered in a private placement and have not been registered under the Securities Act, limiting their sale to accredited investors [3]. Group 3: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, with products available in over 5,000 retail locations across the U.S., Caribbean, and South America [5]. - The company operates advanced greenhouses and processing facilities, utilizing innovative technologies such as the GreenThumb software and Self-Watering displays to enhance sustainability and product quality [5][6]. Group 4: Product Offerings - Edible Garden develops a range of nutrition and specialty food products, including plant and whey protein powders, as well as sustainable condiments and fermented products [7][8].