Edible Garden Announces Pricing of $6.0 Million Public Offering

Core Viewpoint - Edible Garden AG Incorporated has announced a public offering of 2,655,000 shares of common stock and accompanying warrants, aiming to raise approximately $6.0 million before expenses [1]. Group 1: Offering Details - The public offering price is set at $2.26 per share or $2.25 per pre-funded warrant, with warrants exercisable immediately upon issuance [1]. - Class A warrants will expire five years after issuance, while Class B warrants will expire eighteen months after issuance [1]. - The closing of the offering is expected around May 23, 2024, pending customary closing conditions [1]. Group 2: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [5]. - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, and has a network of contract growers near major U.S. markets [5]. - Edible Garden utilizes patented technologies such as GreenThumb software and self-watering displays to enhance sustainability and reduce food miles [5].