EDIBLE GARDEN AG INC Stock Price, News & Analysis

Edible Garden AG announced a new comprehensive training program in collaboration with Abilities of Northwest Jersey, a non-profit organization supporting individuals with disabilities. Established in October 1974, Abilities provides various community-integrated employment and day services. Edible Garden's CEO, Jim Kras, emphasized the decade-long rewarding partnership with Abilities, noting that the initiative integrates dedicated workers with disabilities into their workforce. This program aims to enhance employability and career prospects for these individuals while enriching Edible Garden's workforce with diverse talents. The company reaffirmed its commitment to community involvement, local investment, and leadership in ESG and sustainability initiatives.

Edible Garden AG announced it will showcase its new Pulp line of sustainable, gourmet, USDA organic, fermented sauces and chili-based products at the 2024 Organic Produce Summit.

The event is scheduled for July 11th, 2024 at the Monterey Conference Center, California. The summit targets the organic fresh produce industry, facilitating networking, education, and information exchange among buyers and suppliers.

Edible Garden's CEO, Jim Kras, emphasized the alignment of the Pulp line with the company's commitment to environmental stewardship and innovation. The exhibit aims to connect with retail partners, buyers, suppliers, and industry leaders.

Edible Garden AG has announced an expansion of its distribution through Hemingways, a leading distributor of organic products in the Northeast. The expansion includes an innovative integrated rack program designed to enhance the presentation and accessibility of Edible Garden's herbs. This initiative will begin with Adams Hometown Markets and Highland Park Markets, with plans to extend to more retail partners in New England. The goal is to improve brand visibility, consumer access, and overall shopping experience, potentially increasing sales and customer satisfaction.

Edible Garden, a leader in controlled environment agriculture, announced the implementation of proprietary 'shrink savings' innovations for its basil products. These packaging and shipping improvements aim to reduce spoilage and prolong shelf life, aligning with the company's Zero-Waste Inspired® mission. CEO Jim Kras emphasized the competitive advantage of these innovations, which will be introduced at the annual sales meeting on June 20, 2024. The company believes these measures will enhance its reputation as a reliable partner and drive cost savings for retailers.

Edible Garden AG announced the availability of its Pulp sustainable and fermented products at a major big box retailer's locations across the Midwest. This marks a significant expansion following a successful initial soft launch. CEO Jim Kras stated the broad rollout validates strong customer and retail appeal due to the products' unique flavors. This expansion strengthens Edible Garden's market position as 'The Flavor Maker' in the food industry.

Edible Garden has announced that its full product line, including the new Pulp sustainable gourmet sauces and chili-based products, is now available at all Brooklyn Fare locations in New York City. This marks a significant retail expansion for Edible Garden, a company recognized for its focus on controlled environment agriculture, organic produce, and sustainable practices.

Brooklyn Fare, a prominent retailer known for its high-quality products and culinary expertise at its Chef's Table restaurant, will now offer Edible Garden products across all its stores, enhancing the availability of sustainable and locally grown produce to New York City residents.

CEO Jim Kras expressed enthusiasm about this development, highlighting Brooklyn Fare's reputation for sophisticated flavor profiles that its customers demand. This expansion is expected to boost Edible Garden's market presence and consumer reach in a key urban market.

Edible Garden AG has announced that it achieved high scores in the PrimusGFS food safety audit, reinforcing its position as a leader in sustainable produce. The audit, recognized by the Global Food Safety Initiative (GFSI), certifies the company's production, packing, and distribution processes. This accomplishment aligns with Edible Garden's Zero-Waste Inspired® mission to provide safe and sustainably grown produce. CEO Jim Kras lauded the team’s dedication to maintaining food safety standards, while Director of Food Safety, Jan-Tia Kern, emphasized the importance of these scores, linking them to ongoing research with Auburn University on fresh produce contamination in controlled environment agriculture.

Edible Garden, a leader in controlled environment agriculture (CEA), has completed phase two of its packhouse buildout at its Belvidere, NJ facility. This phase introduces new processing and warehousing capabilities designed to optimize efficiency and serve over 5,000 retail outlets. The facility will integrate the advanced GreenThumb technology, a cloud-based platform to manage greenhouse operations and streamline demand planning. This integration is expected to enhance operational efficiency and potentially increase the company's gross profit margins. The final phase will include refrigeration, warehousing, and corporate offices.

Edible Garden announced a public offering priced at $6.0 million. The offering includes 2,655,000 shares of common stock (or pre-funded warrants) and Class A and B warrants to purchase up to 2,655,000 shares each. The combined public offering price is $2.26 per share ($2.25 per pre-funded warrant), with the Class A warrants expiring in five years and Class B warrants in eighteen months. The offering is expected to close on May 23, 2024, contingent on standard closing conditions. Gross proceeds are projected to be approximately $6.0 million before fees and expenses. Maxim Group is the sole placement agent for this offering. The offering is made under an effective registration statement filed with the SEC.