Edible Garden to acquire sustainable aquaculture assets for $12M

Edible Garden (EDBL) announced the acquisition of certain assets of a sustainable aquaculture company based in Fort Dodge, Iowa, from NaturalShrimp Farms. Edible Garden purchased the NaturalShrimp assets in exchange for $12M of a new class of the company’s preferred stock. In addition, an affiliate of NaturalShrimp, agreed to purchase $3.5M of the company’s preferred stock for cash, of which $3M is being funded immediately, bringing its total investment in the company’s preferred stock to $15.5M. As part of the acquisition, Edible Garden will gain two patents for environmentally friendly water treatment technologies, along with a fully operational shrimp farming facility. The acquisition is expected to support multiple strategic initiatives at Edible Garden, including expanded R&D and warehousing. The company intends to integrate the patented water treatment technology across its existing CEA operations, opening new possibilities for improving agricultural efficiency and sustainability. This development aligns with Edible Garden’s Zero-Waste Inspired mission and enhances the company’s vertically integrated model.