(Note: This is a unit IPO. IPOScoop has NO CALL on unit offerings that are not SPACs. From the prospectus: “We have applied to list our common stock and warrants on the Nasdaq Capital Market under the symbols “EDBL” and “EDBLW,” respectively.”)

(Note: Edible Garden AG, Inc., upsized its unit IPO at pricing on May 4, 2022, to 2.93 million units, up from 2.14 million units, and priced its IPO at $5.00, below the bottom of its $6-to-$8 price range, to raise $14.65 million. In an S-1/A filing dated April 15, 2022, Edible Garden had revised its unit IPO by increasing the number of units – to 2.14 million units, up from 1.36 million units previously – and cutting the price range to $6 to $8, down from $10 to $12 previously – to raise $14.98 million.)

Edible Garden is a controlled environment agriculture (“CEA”) farming company. We use traditional agricultural growing techniques together with technology to grow fresh, organic food, sustainably and safely while improving traceability. We use the controlled environment of traditional greenhouse structures, such as glass greenhouses, together with hydroponic and vertical greenhouses to sustainably grow organic herbs and lettuces. In our hydroponic greenhouse, we grow plants without soil. Instead of planting one row of lettuce in the ground, by using a vertical greenhouse, we can grow many towers of lettuce in the same area by planting up instead of planting across. Growing these products sustainably means that we avoid depleting natural resources in order to maintain an ecological balance, such as by renewing, reusing and recycling materials in order to lower the overall one-time use of materials.

Our controlled greenhouse facilities allow us to grow consistent quality herbs and lettuces year-round, first by eliminating some of the variability of outdoor farming with our CEA techniques, and second by leveraging our proprietary software, GreenThumb. In addition to using hydroponic and vertical greenhouse systems, we use a “closed loop” system in our greenhouses. Generally, in a “closed loop” system, drain water is recollected and reused for irrigation. In our closed loop system, we also cycle water back into the system that has been collected through reverse osmosis. When compared to conventional agriculture, our closed looped systems and hydroponic methods use less land, less energy and less water (than legacy farms), thus conserving some of the planet’s limited natural resources. Our advanced systems are also designed to help mitigate contamination from harmful pathogens, including salmonella, e-coli and others.

We have also developed patented software called GreenThumb that assists in tracking plants through our supply chain. Utilizing our GreenThumb software to track the status of our plants as they grow and move throughout the greenhouse allows us to add a layer of quality control due to the frequent monitoring of the growing process, leading to improved traceability. In this context, traceability means being able to track a plant through all stages of production and distribution.

Note: Revenue and net loss figures are for the year ended Dec. 31, 2021.