SNAXW - Stryve Foods - Another Failed SPAC Deal - Avoid

• Meat snack manufacturer reports weak fourth quarter results and provides a disappointing outlook for 2022.
• Outsized cash usage and a looming debt default required a $35 million emergency capital raise in early January.
• Company expects gross margin pressures to persist for the first half of 2022.
• Given required investments in working capital and massive operating losses, the company is likely to require additional capital by the end of Q2.
• Investors should remain on the sidelines or even consider selling existing positions until the company has secured additional liquidity and got a handle on current margin issues.

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