Edible Garden AG (EDBL) Prices 2.7M Unit Offering at $1.10/unit

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) today announced the pricing of its underwritten public offering of 2,700,726 units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock. Each unit is being sold at a public offering price of $1.10 per unit. The warrants in the units will be immediately exercisable at a price of $1.10 per share and will expire five years from the date of issuance. The shares of common stock and accompanying warrants can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $3.0 million.

Edible Garden has also granted the underwriters an option to purchase an additional 405,108 shares of common stock and/or additional warrants to purchase up to 405,108 shares of common stock, to cover over-allotments, if any. The offering is expected to close on or about September 8, 2023, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager in connection with this offering.

The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-274080), which was declared effective by the Securities and Exchange Commission (the "SEC") on September 7, 2023. The offering is being made only by means of a prospectus which is a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering, when available, will be filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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