Sow Good, which makes freeze dried candy, raised $12 million by offering 1.2 million shares at $10, below the last close of its shares on the OTC ($10.98). The company offered 0.3 million more shares than anticipated.
Sow Good makes freeze dried candy and snacks. Sow Good began commercializing its products in the first quarter of 2023 and uses an omnichannel strategy primarily focused on the wholesale and retail channels. As of December 31, 2023, the company had eighteen SKUs spanning two product lines, which were sold in over 5,850 brick-and-mortar retail outlets in the US.
Sow Good plans to list on the Nasdaq under the symbol SOWG. Roth Capital acted as sole bookrunner on the deal.
