Loan & DebtJun 12, 2026, 05:21 PM
Edible Garden AG Inc. Secures $12M in Notes Financing
AI Summary
Edible Garden AG Inc. has entered into a Notes Purchase Agreement with Streeterville Capital, LLC, agreeing to issue and sell two promissory notes for an aggregate purchase price of $12,000,000. The notes include a $2,170,000 Promissory Note A-1 with an 8% interest rate and a $10,000,000 Secured Promissory Note B with a 5% interest rate, both maturing in 18 months. The company's obligations are secured by a deposit account and equity interests, and the investor has redemption rights.
Key Highlights
- Edible Garden AG Inc. entered into a Notes Purchase Agreement with Streeterville Capital, LLC.
- The agreement involves issuing two notes: a $2,170,000 Promissory Note A-1 and a $10,000,000 Secured Promissory Note B.
- The aggregate purchase price for both notes is $12,000,000.
- Note A-1 bears an 8% annual interest rate with a $160,000 original issue discount.
- Note B bears a 5% annual interest rate.
- Both notes have a maturity date of 18 months from the purchase price date.
- The Company's obligations are secured by a first-priority security interest in a deposit account and a pledge of equity interests in EDBL Holdings, LLC.
- The Investor has redemption rights starting six months after the purchase price date.
Price Impact
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