# EDGAR Filing Document

**Accession Number:** 0001809750
**File Stem:** 0001477932-23-000525
**Filing Date:** 2023-1
**Character Count:** 18731
**Document Hash:** 1bd24eeaf548101b2b22eb2035105e49
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-23-000525.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001477932-23-000525

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20230124

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Edible Garden AG Inc
- **CENTRAL INDEX KEY:** 0001809750
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE PRODUCTION - CROPS [0100]
- **IRS NUMBER:** 850558704
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41371
- **FILM NUMBER:** 23549953

**BUSINESS ADDRESS:**
- **STREET 1:** 283 COUNTY ROAD 519
- **CITY:** BELVIDERE
- **STATE:** NJ
- **ZIP:** 07823
- **BUSINESS PHONE:** 908-750-3953

**MAIL ADDRESS:**
- **STREET 1:** 283 COUNTY ROAD 519
- **CITY:** BELVIDERE
- **STATE:** NJ
- **ZIP:** 07823

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Edible Garden Inc
- **DATE OF NAME CHANGE:** 20200415

?xml version="1.0" encoding="utf-8"?edbl_8k.htm

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

**FORM 8-K** 

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934** 

Date of Report (Date of earliest event reported): **<u>January 24, 2023</u>**

---

| |
|:---|
| **EDIBLE GARDEN AG INCORPORATED** |
| (Exact name of registrant as specified in its charter)  |

---

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-41371** | **85-0558704** |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |

---

---

| | |
|:---|:---|
| **283 County Road 519, Belvidere, New Jersey** | **07823** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **<u>(908) 750-3953</u>**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange**<br>**on which registered** |
| Common Stock, par value $0.0001 per share | EDBL | The Nasdaq Stock Market LLC |
| Warrants to purchase Common Stock | EDBLW | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 3.03 Material Modification to Rights of Security Holders.**

To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

**Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

As of January 24, 2023, the board of directors of Edible Garden AG Incorporated (the "Company") approved a reverse stock split of the Company's issued and outstanding common stock at a ratio of 1-for-30 shares, effective at 12:01 a.m. Eastern Time on January 26, 2023 (the "Reverse Stock Split"). On January 24, 2023, the Company filed a Certificate of Amendment to amend its Certificate of Incorporation (the "Certificate of Amendment") with the Secretary of State of the State of Delaware to effect the Reverse Stock Split.

The Company expects that its common stock will begin trading on a post-split basis under the Company's existing trading symbol, "EDBL," when the market opens on January 26, 2023. The Company's warrants will continue to be traded under the symbol "EDBLW." The new CUSIP identifier for the common stock following the Reverse Stock Split will be 28059P204 and the CUSIP for the warrants will remain unchanged.

As a result of the Reverse Stock Split, every 30 shares of the issued common stock of the Company will be automatically combined into one share of common stock. The total number of authorized shares of common stock will be reduced at the same proportion, from 200,000,000 to 6,666,667 authorized shares of common stock. Any fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share. Proportionate adjustments for the Reverse Stock Split will be made to the exercise prices and number of shares underlying warrants exercisable for shares of common stock, the number of shares issuable under the Company's equity incentive plan, and the number of shares underlying outstanding equity awards, as applicable. The Reverse Stock Split will not change the par value of the common stock or modify any voting rights or other terms of the common stock.

The foregoing summary of the Certificate of Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

**Item 5.07 Submission of Matters to a Vote of Security Holders.**

On January 24, 2023, the Company held a special meeting of its stockholders (the "Special Meeting"). At the Special Meeting, the proposal set forth below was submitted to the Company's stockholders. The number of shares of common stock entitled to vote at the Special Meeting was 10,251,332. The number of shares of common stock present or represented by proxy at the Special Meeting was 6,563,553. The voting results for the proposal are as follows:

1. The Company's stockholders voted to approve an amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's common stock in a range of 1-for-25 to 1-for-75, at the discretion of the board of directors. The number of shares that voted for, against, and abstained from voting for this proposal is summarized in the table below:

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| | | |
|:---|:---|:---|
| **FOR** | **AGAINST** | **ABSTAIN** |
| 6,203,776 | 358,386 | 1,391 |

---

There were no broker non-votes on the proposal at the Special Meeting. Broker non-votes represent shares held by broker nominees for beneficial owners that were not voted because the broker nominee did not receive voting instructions from the beneficial owner and lacked discretionary authority to vote the shares on a non-routine proposal.

**Item 8.01 Other Events.**

On January 25, 2023, the Company issued a press release announcing the Reverse Stock Split. A copy of the press release is attached as Exhibit 99.1 to this report.

2<br>

***Forward-Looking Statements***

This report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words like "anticipate," "believe," "expect," and "will," or the negative thereof or other variations thereon or comparable terminology are used to identify forward-looking statements, although not all forward-looking statements contain these words. Although the Company believes that it is basing its expectations and beliefs on reasonable assumptions within the bounds of what is currently known about its business and operations, there can be no assurance that actual results will not differ materially from what the Company expects or believes. Some of the factors that could cause the Company's actual results to differ materially from its expectations or beliefs are disclosed in the "Risk Factors" section, as well as other sections, of its reports filed with the Securities and Exchange Commission, which include, without limitation, the anticipated timing and benefits of the Reverse Stock Split, and the Company's ability to regain compliance with the Nasdaq Listing Standards and maintain the listing of its securities on Nasdaq. All forward-looking statements speak only as of the date on which they are made and the Company undertakes no duty to update or revise any forward-looking statements, except as required by law.

**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [3.1](edbl_ex31.htm) | [Certificate of Amendment to the Certificate of Incorporation, filed January 24, 2023](edbl_ex31.htm) |
| [99.1](edbl_ex991.htm) | [Press release dated January 25, 2023](edbl_ex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

3<br>

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **EDIBLE GARDEN AG INCORPORATED** | **EDIBLE GARDEN AG INCORPORATED** |
| Date: January 25, 2023 |  | */s/ Michael James* |
|  | Name: | Michael James |
|  | Title: | Chief Financial Officer |

---

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## Exhibit 3.1

**EXHIBIT 3.1**

<br>**CERTIFICATE OF AMENDMENT<br>OF THE<br>CERTIFICATE OF INCORPORATION<br>OF<br>EDIBLE GARDEN AG INCORPORATED**

**EDIBLE GARDEN AG INCORPORATED**, a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the "***General Corporation Law***"), hereby certifies as follows:

**FIRST:** The name of the corporation is Edible Garden AG Incorporated (the "***Corporation***").

**SECOND:** The Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on July 12, 2021.

**THIRD:** Article Four of the Corporation's Certificate of Incorporation is hereby amended in its entirety to provide as follows:

"The total number of shares of capital stock which the Corporation has authority to issue is Sixteen Million Six Hundred Sixty-Six Thousand Six Hundred Sixty-Seven (16,666,667). These shares shall be divided into two classes, with Six Million Six Hundred Sixty-Six Thousand Six Hundred Sixty-Seven (6,666,667) shares designated as Common Stock, par value $0.0001 per share (the "Common Stock") and Ten Million (10,000,000) shares designated as Preferred Stock, par value $0.0001 per share (the "Preferred Stock").

Upon the Effective Time, pursuant to the General Corporation Law, of this Certificate of Amendment to the Certificate of Incorporation of the Corporation, each thirty (30) shares of Common Stock issued and outstanding immediately prior to the Effective Time shall, automatically and without any action on the part of the respective holders thereof, be converted into one (1) share of Common Stock (the "Reverse Stock Split"). No fractional shares shall be issued in connection with the Reverse Stock Split. Stockholders of record who otherwise would be entitled to receive fractional shares of Common Stock because they hold a number of shares not evenly divisible by the Reverse Stock Split ratio will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share. Each certificate that immediately prior to the Effective Time represented shares of Common Stock ("Old Certificates"), shall thereafter represent that number of shares of Common Stock into which the shares of Common Stock represented by the Old Certificate shall have been converted, subject to the elimination of fractional share interests as described above.

The Preferred Stock of the Corporation shall be issued by the Board of Directors of the Corporation in one or more classes or one or more series within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such designations, preferences, rights, qualifications, limitations or restrictions of such rights as the Board of Directors of the Corporation may determine from time to time.

Holders of shares of Common Stock shall be entitled to cast one vote for each share held at all stockholders' meetings for all purposes, including the election of directors. The Common Stock does not have cumulative voting rights.

No holder of shares of stock of any class shall be entitled as a matter of right to subscribe for, purchase or receive any part of any new or additional issue of shares of stock of any class, or of securities convertible into shares of stock of any class, whether now or hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend."

**FOURTH:** This Certificate of Amendment shall become effective on January 26, 2023 at 12:01 a.m. Eastern Time (the "Effective Time").

**FIFTH:** This amendment has been duly adopted by the Board of Directors of the Corporation and approved by the Corporation's stockholders in accordance with Section 242 of the General Corporation Law.

[*Signature page follows.*]

In Witness Whereof, the Company has caused this Certificate of Amendment to be signed by its duly authorized officer on this 24<sup>th</sup> day of January, 2023.

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| | |
|:---|:---|
| By:  | */s/ James Kras*  |
|  | James Kras |
|  | President and Chief Executive Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

![](edbl_ex991img2.jpg)

**Edible Garden Announces Results of Special Stockholder Meeting**

**BELVIDERE, NJ, January 25, 2023 — Edible Garden AG Incorporated ("Edible Garden" or the "Company") (Nasdaq: EDBL, EDBLW),** a leader in controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products, today announced a planned reverse stock split of its shares of common stock at a ratio of 1-for-30. The reverse stock split will take effect as of 12:01 a.m. ET, on Thursday, January 26, 2023, and shares of Edible Garden will trade on a post-split basis on Nasdaq under the existing trading symbol, "EDBL," at the market open on January 26, 2023.

At the Company's special meeting of stockholders held January 24, 2023, stockholders approved an amendment to the Company's certificate of incorporation to implement a reverse stock split in a range of 1-for-25 to 1-for-75, and granted the board of directors the authority to implement and determine the exact split ratio within such range, which was subsequently set by the board at 1-for-30. Following the reverse stock split, the new CUSIP number of the common stock will be 28059P204, with the par value per share of common stock remaining at $0.0001. A proportionate adjustment will be made to the per-share exercise prices and number of shares issuable under all outstanding warrants and equity awards.

Jim Kras, CEO of Edible Garden, commented, "We are pleased that stockholders approved our charter amendment to effect a reverse split of Edible Garden's common stock. The reverse split is being implemented because we believe it will allow us to meet Nasdaq's minimum bid price requirements, among other listing requirements. We also believe that the increased market price of the common stock that is expected as a result of implementing the reverse stock split could improve the marketability of the Company's shares."

When the reverse stock split becomes effective, every thirty shares of the Company's issued and outstanding common stock will be combined into one share of common stock. Each stockholder's percentage ownership interest in Edible Garden will remain unchanged after the reverse stock split. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock. Concurrent with the reverse stock split, the authorized shares will also be proportionately reduced at the same reverse split ratio of 1-for-30.

**ABOUT EDIBLE GARDEN®**

Edible Garden AG Incorporated, is a leader in locally grown organic leafy greens and herbs backed by Zero-Waste Inspired® next generation farming. Offered at over 4,000 stores in the US, Edible Garden is disrupting the CEA and sustainability technology movement with its safety-in-farming protocols, use of sustainable packaging, patented GreenThumb software and self-watering in-store displays. The Company currently operates its own state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey and Grand Rapids, Michigan, and has a network of contract growers, all strategically located near major markets in the U.S. Its proprietary GreenThumb software optimizes growing in vertical and traditional greenhouses while seeking to reduce pollution-generating food miles. Edible Garden is also a developer of ingredients and proteins, providing an accessible line of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. In addition, the Company plans to offer a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products.

**Forward-Looking Statements**

*This press release contains forward-looking statements, including with respect to the timing, implementation, and success of the reverse stock split, and performance as a public company. The words "believe," "expect," "objective," "plan," "seek," "will," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including market and other conditions and the Company's ability to achieve its growth objectives. The Company undertakes no obligation to update any such forward-looking statements after the date hereof to conform to actual results or changes in expectations, except as required by law.*

**Investor Contacts:**

Crescendo Communications, LLC

212-671-1020

EDBL@crescendo-ir.com

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