By Sabela Ojea
Shares of Edible Garden on Wednesday dropped 58% to $1.84 in pre-market trading after the company priced a public offering of shares at a significant discount.
The controlled environment agriculture company said it is offering 2.7 million shares of its common shares at a combined public offering price of $2.26. The company's latest share price stood at $5.59.
Edible Garden expects gross proceeds before deducting placement agent fees and offering expenses of about %6 million.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
May 22, 2024 09:39 ET (13:39 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments