{"id":169374,"date":"2021-02-08T17:41:11","date_gmt":"2021-02-08T23:41:11","guid":{"rendered":"https:\/\/stage.dallasinnovates.com\/?p=169374"},"modified":"2021-02-09T11:01:38","modified_gmt":"2021-02-09T17:01:38","slug":"irving-based-sow-good-raises-2-5m-adds-cre-expert-to-its-board","status":"publish","type":"post","link":"https:\/\/dallasinnovates.com\/irving-based-sow-good-raises-2-5m-adds-cre-expert-to-its-board\/","title":{"rendered":"Irving-Based Sow Good Raises $2.5M, Adds CRE Expert to its Board"},"content":{"rendered":"

Irving-based Sow Good, which aims to produce the highest quality and most nutritious products in the freeze-dried food industry, is making some big moves on the heels of changing its name and stock symbol with a capital raise and new board member.<\/strong><\/p>\n

The company, previously operating as Black Ridge Oil and Gas, last month announced<\/a> that it was becoming Sow Good Inc. to reflect its entry into the global freeze-dried food market, which is estimated to total nearly $60 billion, according to market research company Technavio<\/span>. Its common shares are now traded under the symbol SOWG, replacing the former ANFC.<\/p>\n

As Sow Good, the company now bills itself as an “emerging consumer products platform focused on manufacturing and marketing freeze-dried snacks, smoothies, and soups.” The intent is to fight waste, malnutrition, and food insecurity, all through a snack that stays, tastes, and does good. Sow Good does so by combining ethical sourcing with freeze drying.<\/p>\n

Expected in Q1 of this year is production of a line of freeze-dried items\u2014made in its state-of-the-art facility in Irving\u2014and the launch of a direct-to-consumer website. On its current site, Sow Good makes one vague proclamation: “Good things are coming.”<\/p>\n

“At Sow Good, we’re on a mission to revolutionize food. To fight food waste and food insecurity with products that stay good, are good, taste good and do good,” CEO Claudia Goldfarb said in a statement. “By marrying ethical sourcing with the magic of freeze-drying, we’re able to support the health and wellness of communities, people and the planet.”<\/p>\n

Now, Sow Good is continuing to move toward its mission to “revolutionize food.” On Feb. 5, the company announced it had raised more than $2.5 million in capital from the sale of 631,250 newly-issued shares. Investors included existing management and directors, along with unaffiliated accredited investors.<\/p>\n

That brings Sow Good’s total cash and liquid investments to $4.3 million. And, according to Goldfarb, the company is now well-positioned for its upcoming launches.<\/p>\n

“Investor interest in Sow Good exceeded our expectations,” CFO Brad Burke said in a statement. “Sow Good’s ample liquidity will provide financial flexibility and promote robust growth during 2021.”<\/p>\n

Coinciding with the funding announcement was the news that Chris Ludeman, a commercial real estate veteran, is joining Sow Good’s Board of Directors.<\/p>\n

As the global president of Capital Markets for CBRE, Ludeman is a renowned expert in the industry. He has more than 30 years of experience in various leadership roles in CRE, including in brokerage, transaction management, and global corporate services.<\/p>\n

Ludeman will also serve as Sow Good’s chairperson of the Audit Committee.<\/p>\n

“We are delighted to welcome Chris Ludeman to Sow Good’s board,” Executive Chairman Ira Goldfarb said in a statement. “Chris’s extensive experience with capital markets and institutional investors will strengthen Sow Good’s future capital raising efforts, which will support our planned growth and create value for our shareholders.”<\/p>\n

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Sow Good last month announced its entry into the global freeze-dried food market by changing its stock symbol and name from Black Ridge Oil and Gas.<\/p>\n","protected":false},"author":304,"featured_media":169383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[171831,110855,171833,171832,171830],"class_list":["post-169374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enterprise","tag-black-ridge-oil-and-gas","tag-cpg","tag-food-and-bev","tag-freeze-dried-food","tag-sow-good"],"acf":[],"yoast_head":"\nIrving-Based Sow Good Raises $2.5M, Adds CRE Expert to its Board<\/title>\n<meta name=\"description\" content=\"Sow Good last month announced its entry into the global freeze-dried food market by changing its stock symbol and name.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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