The Real Good Food Company, Inc. Announces the Full Exercise of the Overallotment Option

CHERRY HILL, N.J., Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (NASDAQ: RGF) (the “Company”), a leading health and wellness frozen and refrigerated food company, today announced that the underwriter of the Company’s previously announced public offering of Class A common stock has fully exercised its option to purchase an additional 1,017,857 shares of Class A common stock at the public offering price of $2.10 (the “Overallotment Option”), resulting in additional net proceeds to the Company of approximately $2.0 million, after deducting underwriting discounts and commissions and before estimated offering expenses. The exercise of the Overallotment Option is expected to close on October 17, 2023, subject to satisfaction of customary closing conditions.

After giving effect to the full exercise of the Overallotment Option, a total of 7,803,572 shares of Class A common stock will be issued and sold in the public offering, and the net proceeds from the public offering, including the full exercise of the Overallotment Option, after deducting underwriting discounts and commissions and before estimated offering expenses, will be approximately $15.4 million. The Company intends to use the net proceeds from the Offering for general corporate purposes.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 with the Securities and Exchange Commission (the “SEC”), including a base prospectus, that was previously filed by the Company on September 11, 2023 and was declared effective on September 27, 2023. A final prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering can be obtained from: B. Riley Securities, 1300 17th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, or by telephone at [phone] or by email at [e-mail].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.