Stryve Foods, Inc. Announces Pricing of $2.9 Million Public Offering Priced At-Market According to Nasdaq Rules
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), una piattaforma di snack salutari e leader nel settore degli snack a base di carne disidratata, ha annunciato il prezzo per un offerta pubblica da 2,9 milioni di dollari. L'offerta include 3.670.886 azioni di Classe A e equivalenti, oltre a warrant per acquistare fino a 7.341.722 azioni aggiuntive a 0,79 dollari per azione. Ogni azione include due warrant esercitabili per cinque anni dopo l'approvazione degli azionisti. Si prevede che l'offerta si chiuda intorno al 12 novembre 2024.
La società modificherà anche i warrant esistenti per 529.412 azioni, riducendo il loro prezzo di esercizio da 54,00 dollari a 0,79 dollari per azione. Roth Capital Partners e Northland Capital Markets sono gli agenti co-gestori dell'offerta. I proventi saranno destinati al capitale circolante e ad scopi aziendali generali.
Stryve Foods (NASDAQ: SNAX), una plataforma de snacks saludables y líder en snacks de carne deshidratada, ha anunciado el precio para una oferta pública de 2,9 millones de dólares. La oferta incluye 3.670.886 acciones ordinarias de Clase A y equivalentes, además de warrants para comprar hasta 7.341.722 acciones adicionales a 0,79 dólares por acción. Cada acción incluye dos warrants ejercitables durante cinco años tras la aprobación de los accionistas. Se espera que la oferta cierre alrededor del 12 de noviembre de 2024.
La empresa también modificará los warrants existentes para 529.412 acciones, reduciendo su precio de ejercicio de 54,00 dólares a 0,79 dólares por acción. Roth Capital Partners y Northland Capital Markets son los agentes co-colocadores. Los fondos se destinarán a capital de trabajo y fines corporativos generales.
Stryve Foods (NASDAQ: SNAX)는 건강한 간식 플랫폼이자 공기 건조 육류 간식의 선두주자로서 290만 달러 공모 가격을 발표했습니다. 이 공모에는 3,670,886주 클래스 A 보통주 및 동등한 상품이 포함되며, 주당 0.79달러에 최대 7,341,722주를 구매할 수 있는 워런트가 포함되어 있습니다. 각 주식은 주주 승인 후 5년 동안 행사할 수 있는 두 개의 워런트를 제공합니다. 이 공모는 2024년 11월 12일경 마감될 것으로 예상됩니다.
회사는 또한 529,412주에 대한 기존 워런트를 수정하여 실행 가격을 54.00달러에서 주당 0.79달러로 낮출 예정입니다. Roth Capital Partners와 Northland Capital Markets가 공동 모집 대행사입니다. 자금은 운영 자본 및 일반 기업 용도로 지원됩니다.
Stryve Foods (NASDAQ: SNAX), une plateforme de collations saines et leader des collations à base de viande séchée, a annoncé le prix d'une offre publique de 2,9 millions de dollars. L'offre comprend 3 670 886 actions ordinaires de Classe A et des équivalents, ainsi que des bons de souscription pour acheter jusqu'à 7 341 722 actions supplémentaires à 0,79 dollar par action. Chaque action est accompagnée de deux bons de souscription pouvant être exercés pendant cinq ans après approbation des actionnaires. L'offre devrait se clôturer autour du 12 novembre 2024.
L'entreprise modifiera également les bons de souscription existants pour 529 412 actions, réduisant leur prix d'exercice de 54,00 dollars à 0,79 dollar par action. Roth Capital Partners et Northland Capital Markets sont les co-agents de placement. Les produits seront consacrés au fonds de roulement et à des fins corporatives générales.
Stryve Foods (NASDAQ: SNAX), eine Plattform für gesunde Snacks und Marktführer im Bereich luftgetrockneter Fleischsnacks, hat die Preise für ein öffentliches Angebot in Höhe von 2,9 Millionen Dollar bekannt gegeben. Das Angebot umfasst 3.670.886 Aktien der Klasse A und entsprechende Optionen, sowie Warrants, um bis zu 7.341.722 zusätzliche Aktien zu einem Preis von 0,79 Dollar pro Aktie zu erwerben. Jede Aktie enthält zwei Warrants, die nach der Genehmigung der Aktionäre für fünf Jahre ausgeübt werden können. Es wird erwartet, dass das Angebot etwa am 12. November 2024 abgeschlossen wird.
Das Unternehmen wird auch bestehende Warrants für 529.412 Aktien ändern und den Ausübungspreis von 54,00 Dollar auf 0,79 Dollar pro Aktie senken. Roth Capital Partners und Northland Capital Markets sind die Co-Platzierungsagenten. Die Erlöse werden zur Unterstützung des Betriebskapitals und allgemeiner Unternehmenszwecke verwendet.
- None.
- None.
PLANO, Texas, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), an emerging healthy snacking platform and leader in the air-dried meat snack industry in the United States, today announced the pricing of a public offering priced at-market according to Nasdaq rules of 3,670,886 shares of its Class A common stock and commons stock equivalents and warrants to purchase up to an aggregate of 7,341,722 shares of its Class A common stock at a combined public offering price of
In connection with this offering, the Company also agreed to amend certain existing warrants to purchase up to 529,412 shares of its Class A common stock at an exercise price of
Roth Capital Partners and Northland Capital Markets are acting as the co-placement agents for the offering.
The gross proceeds to the Company from the offering are expected to be
The securities described above are being offered pursuant to the Company’s registration statement on Form S-1 (File No. 333-282043) originally filed with the Securities and Exchange Commission (“SEC”) on September 11, 2024, and which became effective on November 8, 2024. The public offering is being made only by means of a prospectus, which is part of the effective registration statement. When available, electronic copies of the final prospectus may be obtained for free on the SEC’s website located at http://www.sec.gov and may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800) 678-9147 or e-mail at rothecm@roth.com, or by contacting Northland Capital Markets at 150 South Fifth Street, Suite 3300, Minneapolis, MN, by telephone: (800) 851-2920, or by email at fjohnson@northlandcapitalmarkets.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Stryve Foods, Inc.
Stryve is a premium air-dried meat snack company that is conquering the intersection of high protein, great taste, and health under the brands of Braaitime®, Kalahari®, Stryve®, and Vacadillos®. Stryve sells highly differentiated healthy snacking and food products in order to disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.” Stryve offers convenient products that are lower in sugar and carbohydrates and higher in protein than other snacks and foods. Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve®, Kalahari®, Braaitime®, and Vacadillos® brand names. Unlike beef jerky, Stryve’s all-natural air-dried meat snack products are made of beef and spices, are never cooked, contain zero grams of sugar*, and are free of monosodium glutamate (MSG), gluten, nitrates, nitrites, and preservatives. As a result, Stryve’s products are Keto and Paleo diet friendly. Further, based on protein density and sugar content, Stryve believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today. Stryve also markets and sells human-grade pet treats under the brands Two Tails and Primal Paws, made with simple, all-natural ingredients and
Stryve distributes its products in major retail channels, primarily in North America, including grocery, convenience store, mass merchants, and other retail outlets, as well as directly to consumers through its ecommerce websites and through the Amazon and Wal*mart platforms. For more information about Stryve, visit www.stryve.com or follow us on social media at @stryvebiltong.
* All Stryve Biltong and Vacadillos products contain zero grams of added sugar, with the exception of the Chipotle Honey flavor of Vacadillos, which contains one gram of sugar per serving.
Cautionary Note Regarding Forward-Looking Statements.
Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “may”, “will”, “would”, “could”, “intend”, “aim”, “believe”, “anticipate”, “continue”, “target”, “milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”, “guidance” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including, but not limited to, statements regarding Stryve’s plans, strategies, objectives, targets and expected financial performance. These forward-looking statements reflect Stryve’s current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof, provide a reasonable basis for the information and statements contained herein. These forward-looking statements involve various known and unknown risks, uncertainties and other factors, many of which are outside the control of Stryve and its officers, employees, agents and associates. These risks, uncertainties, assumptions and other important factors, which could cause actual results to differ materially from those described in these forward-looking statements, include: (i) the completion of the public offering and the satisfaction of customary closing conditions related to the public offering and the intended use of proceeds from the public offering, (ii) the inability to achieve profitability due to commodity prices, inflation, supply chain interruption, transportation costs and/or labor shortages; (iii) the ability to recognize the anticipated benefits of the Business Combination or meet financial and strategic goals, which may be affected by, among other things, competition, supply chain interruptions, the ability to pursue a growth strategy and manage growth profitability, maintain relationships with customers, suppliers and retailers and retain its management and key employees; (iv) the risk that retailers will choose to limit or decrease the number of retail locations in which Stryve’s products are carried or will choose not to carry or not to continue to carry Stryve’s products; (v) the possibility that Stryve may be adversely affected by other economic, business, and/or competitive factors; (vi) the effect of the COVID-19 pandemic on Stryve; (vii) the possibility that Stryve may not achieve its financial outlook; (viii) risks around the Company’s ability to continue as a going concern and (ix) other risks and uncertainties described in the Company’s public filings with the SEC. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based.
Investor Relations Contact:
Investor Relations
ir@stryve.com
FAQ
What is the price per share in Stryve Foods' (SNAX) November 2024 public offering?
How many warrants come with each share in SNAX's 2024 public offering?
What is the total value of Stryve Foods' (SNAX) November 2024 public offering?