Stryve Foods issues $9.4M of preferred stock to retire debt

Stryve Foods (SNAX) announced the completion of a balance sheet transforming transaction. As part of this initiative, Stryve has issued 877,878 shares of newly created Series A-1 Convertible Preferred Stock, valued at approximately $10.71 per share, for a total of $9.4M in preferred stock. The transaction closed on Thursday, January 30th, 2025, and was priced at a premium to market. As part of this transaction, approximately $8.7M of maturing liabilities have been retired in exchange for the Series A-1 Convertible Preferred Stock. This strategic transaction eliminates a substantial portion of the Company’s outstanding debt obligations, significantly improving its financial flexibility and capital structure. Insiders represent approximately $3M of the preferred stock, with Chris Boever, CEO, personally representing $2.7M.