EDIBLE GARDEN AG INC Stock Price, News & Analysis

Edible Garden (Nasdaq: EDBL) has completed an additional production line at its Heartland facility in Grand Rapids, Michigan, significantly expanding its Midwest production capabilities. The expansion includes advanced processing capabilities and is expected to enhance company margins. The company has integrated its patented GreenThumb greenhouse management system and installed high-speed packing lines to improve product traceability and supply chain efficiency. This expansion aims to meet increased holiday season demand, support future growth, and reduce dependency on third-party suppliers. The company is transitioning toward higher-margin fresh produce by phasing out legacy floral operations acquired with the facility.

Edible Garden (Nasdaq: EDBL) has received grants from the USDA Organic Certification Program to support organic certification costs and R&D at its Belvidere, New Jersey, and Grand Rapids, Michigan facilities. The funding, administered by the Farm Service Agency, will help offset expenses related to achieving and maintaining organic certification, as well as processing and handling certifications. The company plans to utilize these funds for new product innovation while advancing its Zero-Waste Inspired® mission in sustainable agriculture.

Edible Garden AG (Nasdaq: EDBL) is hosting a 'Pickle Party' at the 2024 Global Produce & Floral Show in Atlanta, Georgia, on October 18th-19th. The company is introducing its sustainable, kosher, Non-GMO Pickle Party product line, leading the way in the fresh condiments category with cleaner and better-for-you ingredients.

Edible Garden's CEO, Jim Kras, highlighted the company's focus on cleaner labels and healthier ingredients, addressing consumer demand for fresh, flavorful, and sustainable condiment options. The company's product lines, including Pulp, Squeezables, and Pickle Party, are redefining the condiment space with USDA Organic, raw, and fermented offerings.

The Global Produce & Floral Show attracts over 20,000 participants from all 50 U.S. states and more than 50 countries, providing Edible Garden with a platform to showcase its innovative products and expand its market presence.

Edible Garden AG Incorporated (Nasdaq: EDBL) announced its participation in the 2024 Global Produce & Floral Show in Atlanta, Georgia, from October 18-19. The company will showcase its USDA Organic herbs, hydro-basil, and produce at Booth C1037. Edible Garden will also feature its Pulp line of sustainable gourmet sauces and chili-based products, and introduce Squeezables, a new line of squeezable herbs.

CEO Jim Kras highlighted the event's importance for networking and showcasing Edible Garden's commitment to high-quality, sustainably grown organic produce. The Squeezables line is presented as an innovation in convenience and sustainability, aligning with the company's Zero-Waste Inspired® mission. The Global Produce & Floral Show, organized by the International Fresh Produce Association, attracts over 20,000 participants from all 50 U.S. states and more than 50 countries.

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA) and sustainable produce, has regained compliance with Nasdaq's continued listing requirements. The company received notice from The Nasdaq Stock Market on October 9, 2024, confirming that it had met the minimum stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1).

CEO Jim Kras emphasized the importance of maintaining the Nasdaq listing, stating it strengthens the company's credibility and visibility. He views this as important for enhancing shareholder value and positioning Edible Garden for continued success.

Edible Garden AG Incorporated (Nasdaq: EDBL) has expanded its partnership with Walmart, introducing sustainably grown Hydro Basil to select Walmart Distribution Centers. The company has developed a custom-designed Basil Station display that integrates seamlessly into Walmart's produce sections without disrupting existing planograms.

Edible Garden actively supports Walmart's Project Gigaton, an initiative to reduce greenhouse gas emissions across the global value chain. The company has been recognized as a 'Giga Guru' for its dedication to its Zero-Waste Inspired® mission and leadership in Controlled Environment Agriculture (CEA).

The partnership expansion aligns with increasing demand for organic and sustainably grown products. Edible Garden's commitment to delivering fresh, flavorful, and environmentally friendly products positions it well in the growing market for healthier, eco-conscious food alternatives. The company's consistently high order fulfillment rates have reinforced its relationships with retail partners, potentially impacting revenue growth in 2024 and beyond.

Edible Garden AG Incorporated (Nasdaq: EDBL) has announced the expansion of its distribution partnership with H Mart, the largest Asian supermarket chain in the United States. The company is now shipping its full USDA Organic herb product line to H Mart stores in the Southeast region.

H Mart, established in 1982, has grown to over 97 locations across the country and is known for offering a wide range of Asian and Western groceries. The partnership aligns with both companies' commitment to quality, sustainability, and fresh products.

Jim Kras, CEO of Edible Garden, expressed excitement about the expansion, emphasizing the company's dedication to delivering the freshest and most flavorful herbs to retail partners. He highlighted the shared values between Edible Garden and H Mart, focusing on sourcing high-quality ingredients and meeting the needs of discerning customers.

Edible Garden AG Incorporated (Nasdaq: EDBL), a leader in controlled environment agriculture, has closed its previously announced public offering. The company raised approximately $5.65 million in gross proceeds through the sale of 15,700,650 shares of common stock (or pre-funded warrants) and accompanying Class A and Class B warrants. The combined public offering price was $0.36 per share (or $0.35 per pre-funded warrant) with accompanying warrants.

The Class A warrants expire in five years, while the Class B warrants expire in 18 months, both with an exercise price of $0.36 per share. Edible Garden plans to use the net proceeds to support growth initiatives, general corporate purposes, and repay approximately $3.2 million in short-term debt. Maxim Group acted as the sole placement agent for the offering.

Edible Garden AG Incorporated (Nasdaq: EDBL), a leader in controlled environment agriculture, has announced the pricing of a $5.65 million public offering. The offering includes 15,700,650 shares of common stock (or pre-funded warrants), along with Class A and Class B warrants to purchase additional shares. The combined public offering price is set at $0.36 per share (or $0.35 per pre-funded warrant) with accompanying warrants.

The warrants have an exercise price of $0.36 per share and will be immediately exercisable. Class A warrants expire in five years, while Class B warrants expire in 18 months. The offering is expected to close around September 30, 2024, subject to customary conditions. Maxim Group is acting as the sole placement agent for this offering.