false 0001691936 0001691936 2024-05-20 2024-05-20 0001691936 SNAX:ClassCommonStockMember 2024-05-20 2024-05-20 0001691936 SNAX:WarrantsEachExercisableForClassCommonStockMember 2024-05-20 2024-05-20 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 20, 2024

 

STRYVE FOODS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-38785   87-1760117

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification Number)

 

Post Office Box 864

Frisco, TX

   75034
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (972) 987-5130

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Class A Common Stock   SNAX   The Nasdaq Stock Market LLC
Warrants, each exercisable for Class A Common Stock   SNAXW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 
 

 

Item 1.01. Entry into a Material Definitive Agreement.

 

The information set forth under Item 2.03, “Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant,” is incorporated herein by reference.

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On May 20, 2024, Stryve Foods, Inc. (the “Company”) issued an aggregate of $0.76 million in principal amount of unsecured promissory notes (the “Notes”) to select accredited investors (the “Lenders”) to fund inventory growth, growth in working capital, and general operations. The Notes were issued on the same terms as the noted issued on April 3, 2024 (now totaling approximately $2.4 million) and include an original issue discount of 1%, interest accruing annually at a rate of 12% and a maturity date of December 31, 2024. The Notes will automatically convert in the securities issued in the next sale (or series of related sales) by the Company of its equity securities, following the date of the Notes, from which the Company receives gross proceeds of not less than $3.0 million.

 

The foregoing description of the terms of the Notes are qualified in their entirety by reference to the form Note, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

 

Item 9.01 Financial Statements and Exhibits.

 

10.1 Form of Note (incorporated by reference to Exhibit 10.1 in Form 8-K filed on April 9, 2024)
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 
 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: May 24, 2024

 

  STRYVE FOODS, INC.
     
  By: /s/ R. Alex Hawkins
  Name: R. Alex Hawkins
  Title: Chief Financial Officer

 

 

 

v3.24.1.1.u2
Cover
May 20, 2024
Document Type 8-K
Amendment Flag false
Document Period End Date May 20, 2024
Entity File Number 001-38785
Entity Registrant Name STRYVE FOODS, INC.
Entity Central Index Key 0001691936
Entity Tax Identification Number 87-1760117
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One Post Office Box 864
Entity Address, City or Town Frisco
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75034
City Area Code (972)
Local Phone Number 987-5130
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Class A Common Stock  
Title of 12(b) Security Class A Common Stock
Trading Symbol SNAX
Security Exchange Name NASDAQ
Warrants, each exercisable for Class A Common Stock  
Title of 12(b) Security Warrants, each exercisable for Class A Common Stock
Trading Symbol SNAXW
Security Exchange Name NASDAQ
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