DealsOct 1, 2026, 04:06 PM
Edible Garden Buys Iowa RTD Facility for $6.3M
AI Summary
Edible Garden AG Inc. has entered into a Real Estate Purchase Contract to acquire a 6.2-acre property in Webster City, Iowa, for $6,325,000. This property is being developed as the Company's Prairie Hills ready-to-drink manufacturing facility. The acquisition will transition Edible Garden from a tenant to an owner, granting long-term control over a key manufacturing asset. The purchase price will be paid through a combination of Series B Preferred Stock ($2,500,000 total) and a secured promissory note ($3,825,000) with an 8% annual interest rate. The transaction is subject to a 20-day due diligence period.
Key Highlights
- Edible Garden AG Inc. entered into a Real Estate Purchase Contract to acquire a 6.2-acre property in Webster City, Iowa.
- The aggregate purchase price for the property is $6,325,000.
- Payment includes $1,500,000 in Series B Preferred Stock issued initially, with an additional $1,000,000 in Series B Preferred Stock at closing.
- A secured promissory note of $3,825,000 with 8% annual interest, compounded daily, will be issued at closing.
- The property is being developed as the Company's Prairie Hills ready-to-drink manufacturing facility.
- The acquisition transitions Edible Garden from tenant to owner, providing long-term control over a strategic manufacturing asset.
- The transaction is subject to a 20-day due diligence review period.
Price Impact
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