Sow Good Announces $3.7M Private Placement, New Market Penetration
- Sow Good Inc. successfully completes a $3.7M private placement, raising funds for expansion and meeting customer demand.
- The share price of $5.00 represents an 18% premium to Sow Good's last equity raise in 2021.
- Sow Good plans to double production capacity with three new freeze driers by Q1 2024.
- Sow Good expands its retail presence with upcoming launches into Cracker Barrel and 300 Target stores.
- Sow Good enters the Israeli market, marking its first foray into international markets.
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Three New Freeze Driers by Q1 2024
In the last two months, as its freeze dried candy sales have continued to outpace expectations, Sow Good has increased its workforce by
Retail Expansions and New Market Penetration
Sow Good's retail presence continues growing with its upcoming launch into Cracker Barrel and four SKU launch into 300 Target stores early September. Concurrently, Sow Good's sales performance maintains a strong upward trajectory with current distributors and retailers, including Hy-Vee, FYE, Big Lots, and Five Below. Sow Good's partnership with Five Below has expanded from two candy SKUs to four and will include SKUs from Sow Good's upcoming freeze dried ice cream line, which is expected to launch across all channels in Q4 2023. Additionally, the company's expansion into the Israeli market has yielded remarkable success, marking the first introduction of such treats in the region and Sow Good's first foray into international markets.
Claudia Goldfarb, Sow Good CEO, stated, "Our expansion efforts, strategic partnerships, and foray into international markets are all in alignment with our pursuit of relentless innovation and mission to revolutionize and disrupt the candy industry."
About Sow Good Inc.
Sow Good Inc. (OTCQB:SOWG) is a freeze dried candy and snack company based in
CONTACT: info@sowginc.com
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SOURCE Sow Good, Inc.
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