Edible Garden AG Inc (EDBL) Form 8-K — Oct 1, 2026
Edible Garden AG (Nasdaq: EDBL) signed a Real Estate Purchase Contract on September 30, 2026 to buy the Webster City, Iowa property being developed as its Prairie Hills ready-to-drink manufacturing facility for $6,325,000, moving from tenant to owner of the site. Payment runs through Streeterville Capital at the seller's direction: 1,500 Series B Preferred shares ($1,500,000 agreed value, non-refundable) already issued, 1,000 more ($1,000,000) at closing, plus a $3,825,000 secured promissory note bearing 8% interest compounded daily, maturing in five years, and secured by a mortgage on the property.
Key figures
- Debt Amount
- 3825000
- Interest Rate
- 8
- Maturity Date
- five years after issuance
- Purchase Price Usd
- 6325000
- Property size
- 6.2 acre Webster City, Iowa site
- Monitoring fee
- 5% of Outstanding Balance after 1 year
- Default interest
- up to 18% per annum
- Prepayment premium
- 120% of Outstanding Balance during first 2 years on Fundamental Transaction
- Review period days
- 20
- Real estate tax cure
- 154333
- Closing preferred shares
- 1,000 Series B Preferred shares, $1,000,000 agreed value
- Initial preferred shares
- 1,500 Series B Preferred shares, $1,500,000 agreed value, non-refundable
AI analysis
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