CPG - Stryve Foods drops 16% on $4.1M funding

2023-04-21 03:54:47 ET

• Healthy snack and eating platform, Stryve Foods ( NASDAQ: SNAX ) has secured an additional $4.1M in funding to support its growth.
• The $4.1M in debt financing is in the form of secured promissory notes subordinate to Stryve’s senior lenders and was funded by a combination of various accredited investors and Stryve insiders.
• The notes accrue interest annually at a rate of 12%.
• “We are pleased to secure additional financing to fund our working capital needs, which will allow us to fuel our growth as we deliver against our increasing demand,” commented Chris Boever CEO.
• The stock price is down 16% during late night hours.

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