By Stephen Nakrosis
Edible Garden said it acquired some assets of a sustainable aquaculture company from NaturalShrimp Farms in exchange for $12 million of a new class of preferred stock.
As part of the acquisition, Edible Garden will gain two patents for environmentally friendly water-treatment technologies and a fully operational shrimp-farming facility, the company said.
In addition, the deal will see an affiliate of NaturalShrimp purchase $3.5 million of Edible Garden's preferred stock for cash, with $3 million being funded immediately.
Edible Garden also said the deal is expected to support multiple strategic initiatives, including expanded research and development and warehousing. In addition, the company said it intends to integrate the patented water-treatment technology across existing controlled environment agriculture operations.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 14, 2025 18:13 ET (22:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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