IRVING, Texas – Sow Good Inc. (OTCQB to NASDAQ: SOWG), a company specializing in freeze-dried candies and treats, announced today the pricing of its public offering of 1.2 million shares at $10 each. The offering, which is expected to close on May 6, 2024, could bring in $12 million before deductions for expenses and underwriting discounts.

The announcement follows the company’s recent approval to list its common stock on the Nasdaq Capital Market, with trading commencing today. Shareholders are not required to take any action regarding the uplisting, and the ticker symbol “SOWG” will remain the same.

Sow Good has granted underwriters a 30-day option to buy up to an additional 180,000 shares. Roth Capital Partners is the sole book-running manager, with Craig-Hallum acting as co-manager for the offering.

The company plans to use the net proceeds for various corporate purposes. These include expanding production capacity, funding working and growth capital, enhancing sales and marketing efforts, and reducing certain debt tranches.

This press release contains forward-looking statements regarding the company’s strategy, plans, and objectives, including the offering’s anticipated benefits, growth expectations, and future capital expenditures. However, these statements involve risks and uncertainties that could cause actual results to differ materially.

The offering is made only through a prospectus filed with the U.S. Securities and Exchange Commission (SEC), available from Roth Capital Partners or the SEC’s website.

Sow Good Inc. is known for its innovative approach to transforming traditional candy into a new subcategory of confectioneries through proprietary freeze-drying technology.

This news article is based on a press release statement.

InvestingPro Insights

As Sow Good Inc. (OTCQB to NASDAQ: SOWG) embarks on its latest public offering, investors are keenly observing the company’s financial metrics and market performance. According to real-time data from InvestingPro, Sow Good Inc. has a market capitalization of approximately $96.2 million, which reflects the market’s current valuation of the company.

Despite a challenging week with a price total return of -31.72%, the company has demonstrated a strong return over the last year, with a 158.35% increase.

InvestingPro Tips indicate that Sow Good Inc. stock trades with high price volatility and has experienced significant price movements. This could be an important consideration for investors who are sensitive to short-term market fluctuations.

The company’s stock has fared poorly over the last month, with a -21.57% price total return, but it’s worth noting that it has had a high return over the last year and a large price uptick over the last six months, reflecting a longer-term positive trend.

Investors should also be aware that Sow Good Inc. operates with a moderate level of debt and has liquid assets that exceed short-term obligations, which could be seen as a positive sign of the company’s financial health. Yet, the company is not profitable over the last twelve months, as indicated by its negative P/E ratio of -19.41 and an even more pronounced adjusted P/E ratio of -51.8 for the last twelve months as of Q4 2023.

For those looking to delve deeper into the company’s financials and performance, InvestingPro provides a wealth of additional tips. To explore these insights and to make more informed investment decisions, interested readers can take advantage of a special offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 15 more InvestingPro Tips available, investors can gain a comprehensive understanding of Sow Good Inc.’s position in the market.

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