Edible Garden AG Inc. has recently entered into a significant financial agreement with Avondale Capital, LLC. On August 29, 2025, the company finalized a note purchase agreement, resulting in the issuance and sale of a $1,750,000 secured promissory note to Avondale. After accounting for a $350,000 original issue discount and other transaction expenses, Edible Garden AG received net proceeds of $1,395,000. The funds will partially satisfy obligations under an earlier agreement with Arin Funding LLC. The agreement stipulates weekly payments of $43,750 and allows for prepayment without penalties. If the loan is fully repaid by January 16, 2026, a $50,000 discount on the outstanding balance will be applied. The promissory note is secured against Edible Garden AG's cash, accounts receivable, and other receivables, with Avondale holding a security interest. The agreement includes customary representations, warranties, and covenants, with specific conditions triggering default events, which could lead to penalties or increased interest rates.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Edible Garden AG Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001477932-25-006533), on September 05, 2025, and is solely responsible for the information contained therein.
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