Investors are known for being on the hunt for innovative companies that could create considerable upsides in the long run and create wealth. However, it is important to do one’s research and then start tracking such a company at the right time. A company that could be interesting for such investors is possibly Sow Good Inc. (OTC:SOWG), an innovative player in the freeze-dried candy and treat industry.
On April 16, the company entered the news cycle after it announced that it had launched an underwritten public offering that could generate gross proceeds to the tune of $15 million. Additionally, the company also aimed to grant the underwriters of the transaction a 30-day option to pick up an additional 15% of the shares of the issued common stock. In the news release, Sow Good noted that the offering would go through once it met the market and other conditions. Hence, there was no assurance with regards to whether the offering was going to be completed, the actual size, or the terms.
The company announced that it aimed to use the net proceeds from the offering for general corporate purposes, which could include capital expenses for expansion of production capacities, working capital, funding of work, and the expansion of the marketing and sales team at Sow Good. It could also be deployed towards paying down some of the debts.
The sole bookrunner for the offering would be Red Roth Partners, and the co-manager of the offering would be Craig Hallum. Sow Good also revealed that the planned offering would be made only through a prospectus. The company also stated that copies of the prospectus supplement as well as the accompanying prospectus would be filed with the United States Securities and Exchange Commission.
