06/12/2026 | Press release | Distributed by Public on 06/12/2026 15:00
Item 3.02. Unregistered Sales of Equity Securities.
On May 21, 2026 and June 8, 2026, Edible Garden AG Incorporated (the "Company") entered into exchange agreements (the "Exchange Agreements") with Streeterville Capital, LLC, a Utah limited liability company ("Streeterville") pursuant to which the Company agreed to exchange 74 and 125 shares, respectively, of the Company's Series B Preferred Stock, par value $0.0001 per share (the "Preferred Stock"), for a total of 865,903 shares of the Company's common stock, par value $0.0001 per share ("Exchange Shares"). The Preferred Stock had an aggregate stated value of $199,000 (the "Stated Value"), or $1,000 per share. The number of Exchange Shares issued under the Exchange Agreements was determined by dividing the Stated Value by the Nasdaq Minimum Price of the Company's common stock as reported on the Nasdaq Capital Market on the day immediately preceding the date the Exchange Agreements were entered into. The issuance of the Exchange Shares pursuant to the Exchange Agreements were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and were conducted pursuant to the exemption provided in Section 3(a)(9) under the Securities Act.
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