07:49 AM EDT, 09/06/2024 (MT Newswires) -- Edible Garden ( EDBL ) said Friday it plans to offer up to about 4.7 million units to the public for $1.07 apiece to raise about $5 million, in a bid to comply with the Nasdaq Capital Market's minimum shareholder's equity of $2.5 million.

Each unit consists of one common share and a warrant to purchase one additional share, Edible said.

Edible said that as of June 30, it had a stockholder's equity of about $500,000 and that it must regain compliance with the required minimum by Oct. 8.