Sow Good, which produces freeze dried candy, raised the proposed deal size for its upcoming IPO on Tuesday. The company is currently listed on the OTCQB under the symbol "SOWG", and commands a market cap of $148 million.
The Irving, TX-based company now plans to raise $15 million. The company had previously filed to raise $1 million.
Sow Good makes freeze dried candy and snacks. Sow Good began commercializing its products in the first quarter of 2023, and as of December 31, 2023, has eighteen SKUs spanning two product lines. The company uses an omnichannel strategy primarily focused on the wholesale and retail channels, and, as of December 31, 2023, its products are sold in over 5,850 brick-and-mortar retail outlets in the United States.
Sow Good was founded in 2010 and booked $16 million in sales for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol SOWG. Roth Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
