IPO - Edible Garden AG Inc

Form Type: S-3/A

Filing Date: 2025-01-28

Corporate Action: Ipo

Type: New

Accession Number: 000147793225000502

Filing Summary: Edible Garden AG Incorporated filed a Pre-Effective Amendment No. 1 to Form S-3 on January 28, 2025, relating to the registration of 16,660,000 shares of common stock by selling stockholders. The common stock is offered at prevailing market prices or through negotiated transactions. This amendment is a continuation of their plan to raise capital and includes details about the company's operational background and market challenges. Edible Garden operates under controlled environment agriculture (CEA), focusing on sustainable farming and organic growth. They have faced compliance issues with Nasdaq regarding listing rules, specifically concerning maintaining a minimum bid price of $1.00 per share, which could lead to delisting. The company is currently awaiting the results of a hearing with Nasdaq about its compliance status. Additionally, Edible Garden has a history of operating losses and needs to secure additional financing to maintain operations. The document outlines the expected risks associated with the investment and emphasizes the speculative nature of the stocks being offered, along with the company's efforts in enhancing brand awareness and sustainability in their agricultural practices.