Sow Good Raises Over $2.5M in Personal Placement
IRVING, Texas, Feb. 5, 2021 /PRNewswire/ — On February 5, 2021, Sow Good efficiently raised over $2.5M of capital from the sale of 631,250 newly-issued shares in a personal placement. Proceeds can be used to fund capital expenditures and dealing capital funding as Sow Good nears the graduation of manufacturing and launch of its direct-to-consumer web site. When mixed with current liquidity as of January 31st, Sow Good now has $4.3M of money and liquid investments.
“Investor curiosity in Sow Good exceeded our expectations,” mentioned Brad Burke, Chief Monetary Officer. “Sow Good’s ample liquidity will present monetary flexibility and promote strong progress throughout 2021.”
Claudia Goldfarb, Chief Government Officer, said, “We’re extremely enthusiastic about Sow Good’s progress and the momentum that this capital increase provides. We’re well-positioned to launch our merchandise and direct-to-consumer web site by the tip of the quarter, in addition to full the build-out of our facility.”
Buyers within the non-public placement embody current administration and administrators, along with unaffiliated accredited traders.
Chris Ludeman, President of CBRE Capital Markets, Joins Sow Good Board
On January 27th, Sow Good appointed Chris Ludeman as a member of the Board of Administrators and Chairperson of the Audit Committee. Mr. Ludeman is a famend business actual property govt, serving because the International President of Capital Markets for CBRE, the world-leader in business actual property capital markets.
Throughout his greater than three a long time in the actual property providers trade and with CBRE, Mr. Ludeman has served in a number of key administration roles, together with serving because the President of varied companies together with Brokerage, Transaction Administration, and International Company Providers. In these roles, Mr. Ludeman was chargeable for all transaction models within the Americas and company outsourcing features, similar to amenities administration, mission administration, lease administration, transaction administration, and analysis and consulting.
“We’re delighted to welcome Chris Ludeman to Sow Good’s board,” mentioned Ira Goldfarb, Government Chairman. He continued, “Chris’s in depth expertise with capital markets and institutional traders will strengthen Sow Good’s future capital elevating efforts, which is able to help our deliberate progress and create worth for our shareholders.”
On January 27th, Benjamin Oehler tendered his resignation from Sow Good’s Board of Administrators and Audit Committee. The Firm thanks him for his years of service.
Advisors
The Firm acted as its personal monetary advisor within the transaction. Stinson LLP acted because the Firm’s authorized advisor.
Sow Good Inc. (OTCQB:SOWG) is devoted to producing the very best high quality and most nutritious merchandise within the freeze-dried meals trade whereas constructing a model that celebrates the significance of sustainability, the setting and our communities.
On October 1, 2020, the Firm finalized its acquisition of the freeze-dried meals enterprise belongings from S-FDF, LLC. Manufacturing is anticipated to start on the Irving, Texas based mostly 20,000 sq. foot state-of-the artwork facility in Q1 of 2021. Further bulletins concerning the Firm’s web site and product launch can be forthcoming.
Ahead Wanting Statements
Sure statements contained herein, which aren’t historic, are forward-looking statements which can be topic to dangers and uncertainties not identified or disclosed herein that would trigger precise outcomes to vary materially from these expressed herein. These statements might embody projections and different “forward-looking statements” inside the which means of the federal securities legal guidelines. Any such projections or statements mirror administration’s present views about future occasions and monetary efficiency. No assurances may be provided that such occasions or efficiency will happen as projected and precise outcomes might differ materially from these projected. Vital components that would trigger the precise outcomes to vary materially from these projected embody, with out limitation, normal financial or trade situations nationally and/or within the communities wherein our Firm conducts enterprise, situations of the securities markets, our capacity to boost capital or have entry to debt financing, modifications in accounting ideas, insurance policies or tips, monetary or political instability, acts of warfare or terrorism, different financial, aggressive, governmental, regulatory and technical components affecting our Firm’s operations, merchandise, providers and costs and different dangers inherent within the Firm’s companies which can be detailed within the Firm’s Securities and Alternate Fee (“SEC”) filings. Readers are inspired to assessment these dangers within the Firm’s SEC filings.
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SOURCE Sow Good Inc.
— to finance.yahoo.com
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