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Stryve Foods, Inc. Announces Closing of $2.9 Million Public Offering

PLANO, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. ("Stryve" or "the Company") (NASDAQ:SNAX), an emerging healthy snacking platform and leader in the air-dried meat snack industry in the United States, today 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 $0.79 per share (or prefunded warrant) and associated common warrants. Each share of Class A common stock (or prefunded warrant) was sold together with two warrants each to purchase one share of Class A common stock. The common warrants have an exercise price of $0.79 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 $2.9 million, 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.

The securities described above were offered pursuant to the Company's registration statement on Form S-1 (File No. 333-282043) originally filed with the Securities and Exchange Commission ("SEC") on September 11, 2024, and which became effective on November 8, 2024. The public offering was made only by means of a prospectus, which is part of the effective registration statement. Electronic copies of the final prospectus may be obtained for free on the SEC's website located at http://www.sec.gov and may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800) 678-9147 or e-mail at