New Jersey Economic Development Authority Preliminarily Approves Edible Garden's Application Under Technology Business Tax Certificate Transfer Program For State FY25

Author: Benzinga Newsdesk | October 30, 2025 07:10am

Edible Garden AG Incorporated ("Edible Garden" or the "Company") (NASDAQ:EDBL, EDBLW))), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced that the New Jersey Economic Development Authority (NJEDA) has preliminarily approved the Company's application under the Technology Business Tax Certificate Transfer Program (the "Program"), also known as the Net Operating Loss (NOL) Program, for State Fiscal Year 2025. Final allocations under the Program will be based a number of factors including but not limited to location of our facilities, total available tax benefits per applicant and total requested amount.

The preliminary approval authorizes Edible Garden to transfer up to approximately $3.35 million of its unused New Jersey net operating losses and research and development (R&D) tax credits to an approved corporate buyer. If a sale is completed, the Company could generate up to approximately $3.35 million in cash proceeds, providing non-dilutive capital to support working capital, growth initiatives, and innovation. The transaction remains subject to identifying an approved corporate buyer, final allocation under the Program, closing, and compliance approval by the NJEDA.

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