: Edible Garden lowers IPO pricing, increases units

Edible Garden AG EDBL said Friday it was increasing the number of units in its initial public offering while trimming the price. In a Friday filing with the Securities and Exchange Commission, the controlled-environment agriculture company said it is offering 2.1 million units — consisting of one share of common stock and one warrant to purchase one share at $7 a share — at $6 to $8 apiece to trade on the Nasdaq under the ticker “EDBL.” In an earlier filing, the company said it was offering 1.4 million units at $10 to $12 apiece. Maxim Group LLC is the lead book-running manager and Joseph Gunnar & Co. LLC is the joint book-running manager for the offering, Edible Garden said. The company uses traditional greenhouses, along with hydroponic and vertical greenhouses, in a “closed loop” system, along with proprietary software to grow more than 30 products in a sustainable manner.

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