Stryve Foods (SNAX) Files for 10.9M Share and Warrant Offering

Stryve Foods (NASDAQ: SNAX) has filed the following:

We are offering up to 10,897,435 shares of our Class A Common Stock , par value $0.0001 per share (the “Class A Common Stock”) based at an assumed offering price of $1.56 per share (which was the last reported sale price of our Class A Common Stock on the Nasdaq Capital Market (or Nasdaq) on October 3, 2024) in a firm commitment underwritten offering.

Because a purchaser’s purchase of shares of Class A Common Stock in this offering could otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or at the election of the purchaser, 9.99%) of our outstanding Class A Common Stock immediately following consummation of this offering, we are offering to the purchasers pre-funded warrants to purchase up to 10,897,435 shares of Class A Common Stock (the “Pre-Funded Warrants”) in lieu of shares of Class A Common Stock. Each Pre-Funded Warrant will be exercisable for one share of our Class A Common Stock. The purchase price of each Pre-Funded Warrant is equal to the price per share at which the shares of Class A Common Stock are being sold to the public in this offering, minus $0.001 per share, and the exercise price of each Pre-Funded Warrant will be $0.001 per share. For each Pre-Funded Warrant that we sell, the number of shares of our Class A Common Stock offered will be decreased on a one-for-one basis. This offering also relates to the shares of Class A Common Stock issuable upon exercise of the Pre-Funded Warrants (the “Pre-Funded Warrant Shares”).

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