Stryve Foods announces closing of $2.9M public offering

Stryve Foods (SNAX) announced the closing of its previously announced public offering priced at-market according to Nasdaq rules of 3,670,886 shares of its Class A common stock and commons stock equivalents and warrants to purchase up to an aggregate of 7,341,722 shares of its Class A common stock at a combined public offering price of 79c per share and associated common warrants. Each share of Class A common stock was sold together with two warrants each to purchase one share of Class A common stock. The common warrants have an exercise price of 79c per share, are exercisable following stockholder approval and have a term of exercise equal to five years following date of the stockholder approval. The closing of the offering occurred on November 12, 2024. Roth Capital Partners and Northland Capital Markets acted as the co-placement agents for the offering. The company received gross proceeds from the offering of $2.9M, before deducting the placement agents’ fees and other offering expenses payable by the company. The company intends to use the net proceeds from this offering for working capital and general corporate purposes.