Edible Garden Enters Into Warrant Exercise Transaction for $3.0 Million in Gross Proceeds

Core Viewpoint - Edible Garden AG Incorporated has entered into an agreement with an institutional investor to exercise 8,330,000 Class B Warrants, generating approximately $2.8 million in net proceeds for the company [1][2]. Group 1: Warrant Exercise Agreement - The institutional investor will exercise 8,330,000 outstanding Class B Warrants at an exercise price of$0.36 per share [1]. - The exercise of these warrants will result in the issuance of new Class A and Class B Warrants, each allowing the purchase of up to 8,330,000 shares of common stock at the same exercise price of $0.36 per share [3]. - The new Class A Warrants will expire five years from issuance, while the new Class B Warrants will expire eighteen months from issuance [3]. Group 2: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [7]. - 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 [7]. - Edible Garden utilizes patented technologies such as the GreenThumb software and self-watering displays to enhance its farming efficiency and sustainability [7].