Stryve Foods, Inc. - SNAX STOCK NEWS

Stryve Foods (NASDAQ: SNAX) has closed its previously announced public offering, raising $2.9 million through the sale of 3,670,886 shares of Class A common stock and stock equivalents at $0.79 per share. The offering included warrants to purchase up to 7,341,722 additional shares. Each share was sold with two warrants, exercisable at $0.79 per share for five years following stockholder approval. Roth Capital Partners and Northland Capital Markets served as co-placement agents. The company plans to use the proceeds for working capital and general corporate purposes.

Stryve Foods (NASDAQ: SNAX), a healthy snack platform and leader in air-dried meat snacks, announces its fiscal 2024 third quarter results release scheduled for Wednesday, November 13, 2024, after market close. The company will host a conference call at 4:30 pm EST the same day. Investors can join via phone (1-800-717-1738 or 1-646-307-1865) or webcast. A replay will be available through November 27, 2024, using PIN 11157512#. The webcast can be accessed through the company's Investor Relations website.

Stryve Foods (NASDAQ: SNAX), a healthy snacking platform and air-dried meat snack leader, has announced pricing for a $2.9 million public offering. The offering includes 3,670,886 shares of Class A common stock and equivalents, plus warrants to purchase up to 7,341,722 additional shares at $0.79 per share. Each share comes with two warrants exercisable for five years following stockholder approval. The offering is expected to close around November 12, 2024.

The company will also amend existing warrants for 529,412 shares, reducing their exercise price from $54.00 to $0.79 per share. Roth Capital Partners and Northland Capital Markets are co-placement agents. Proceeds will support working capital and general corporate purposes.

Stryve Foods (NASDAQ: SNAX) has announced two major developments: a strategic partnership with Dot Foods, North America's largest food industry redistributor, starting November 2024, and new chainwide distribution with a major national retailer beginning Q1 2025. The Dot Foods partnership aims to streamline operations, improve service levels, and optimize lead times. The new retail distribution agreement will expand Stryve's presence to thousands of new locations across the United States. These developments support Stryve's strategy to increase the availability of its air-dried meat snack brands, including Stryve, Vacadillos, and Kalahari.

Stryve Foods, Inc. (NASDAQ: SNAX) announced new and expanded distribution with major retailers, including BJ's Wholesale Club. This follows a successful product rotation in Costco's Southeast Region during Q2. The company secured new distribution with retailers like Circle K Coastal, Wawa, and Lowe's Grocery, while expanding presence with existing partners such as Sprouts and CVS.

Preliminary Q3 2024 metrics indicate expected net sales growth of 30% to 35% year-over-year, driven by increased retail consumption. However, supply was constrained due to working capital limitations. Stryve anticipates significant year-over-year improvement in gross margin despite higher beef prices.

CEO Chris Boever expressed confidence in the company's strategy and product offerings, citing strong sales growth and margin improvement as key components of their path to profitability. Stryve's air-dried snacks, with zero sugar and high protein content, continue to resonate with health-conscious consumers.

Stryve Foods, Inc. (NASDAQ: SNAX) has announced the launch of High Steaks, a new brand of high-quality, high-protein, human-grade pet treats. Known for their air-dried meat snacks, Stryve is now entering the pet category with treats featuring real, air-dried beef as the primary ingredient. High Steaks offers treats with 0g sugar and simple ingredients, designed for active and healthy dogs.

The treats come in flavors including beef, beef + liver, and beef + sweet potato. They contain no artificial additives, fillers, or preservatives. High Steaks will be available for purchase on the company's website starting in October 2024, with plans to secure retail distribution in the coming quarters.

Stryve Foods, Inc. (NASDAQ: SNAX) reported strong Q2 2024 results, showing significant improvements in key financial metrics. Net sales reached $6.2 million, up 3.0% year-over-year and 34.4% sequentially. Gross margin expanded to 27.4%, a substantial increase from 17.5% in Q2 2023. The company achieved its lowest Adjusted EBITDA loss in history, improving by 34.8% year-over-year.

Stryve updated its FY2024 net sales guidance to $23-$26 million, projecting 30.0% to 46.9% growth year-over-year. The company's transformation strategy focuses on driving profitable volumes, operational efficiency, and cost management. Stryve closed approximately $3.0 million in convertible promissory notes during Q2 to fund working capital needs for new distribution.

Stryve Foods, Inc. (NASDAQ: SNAX), a healthy snack company and leader in air-dried meat snacks, has announced the timing for its fiscal 2024 second quarter results. The company will release its results on Wednesday, August 14, 2024, after market close, followed by a conference call at 4:30 pm EDT the same day.

Investors can join the call by phone at 1-800-717-1738 or 1-646-307-1865, or via webcast at the company's investor relations website. A replay will be available until August 28, 2024, by dialing 1-844-512-2921 or 1-412-317-6671 with PIN 1111896#. The webcast archive will also be accessible on the corporate website shortly after the call concludes.

Stryve Foods (NASDAQ: SNAX), a pioneer in healthy protein snacks, has appointed Kevin Vivian as the new Chairman of the Board, effective immediately. Vivian, a former Senior VP at Frito-Lay with 32 years at PepsiCo, will lead Stryve toward profitability. CEO Chris Boever highlighted outgoing Chairman Ted Casey's strategic impact, especially in manufacturing and brand growth. Vivian's extensive experience in consumer goods and sales growth is expected to drive Stryve's next phase. The company, focusing on quality growth and profitability, values the foundation laid by Casey and looks forward to Vivian’s leadership to achieve strategic goals and shareholder value.