Sow Good Inc. completed strategic transactions to enhance liquidity, transition to an asset-light model, and support candy operations.
Key transactions include a $6.0 million private placement and the sale of assets to Trea Grove, LLC for $1.5 million.
The company aims to stabilize operations, evaluate growth opportunities, and explore strategic alternatives.
$6.0 Million Private Placement
Funding secured through two tranches of preferred stock with investor David Lazar.
Strategic Asset Sale
Assets related to freeze-dried snacks and candy sold to Trea Grove, LLC for $1.5 million.
Board and Management Updates
David Lazar appointed as CEO and Board Chair, Claudia Goldfarb transitioned to COO, and new board members elected.
- Transactions aimed at providing financial stability and enhancing growth prospects within the candy industry.
- Asset sale reduces fixed operating costs and leverages third-party distribution for product sales.
Sow Good Inc. positions itself for sustained candy business operations, growth exploration, and value creation through strategic initiatives and operational adjustments.