10:28 AM EDT, 09/27/2024 (MT Newswires) -- Edible Garden ( EDBL ) said Friday it priced a $5.7 million public offering of shares and warrants at a combined price of $0.36 per share and accompanying warrants.

The offering consists of 15.7 million shares, class A warrants to purchase up to 15.7 million shares and class B warrants to purchase up to 15.7 million shares, the company said, adding the warrants can be exercised immediately after they are issued for $0.36 per share.

Edible Garden ( EDBL ) said the class A and class B warrants will expire five years and eighteen months after issuance, respectively.

The company expects to close the offering on or about Monday.

Shares of the company fell more than 38% in recent trading.

Price: 0.29, Change: -0.18, Percent Change: -38.13