Laird Superfood Confirms Receipt of Unsolicited Offer
August 17 2022 - 8:00AM
Business Wire
Laird Superfood, Inc. (NYSE American: LSF) (“Laird Superfood” or
“Company”) today confirmed that it has received an unsolicited
offer from EF Hutton SPV I LLC to acquire all of the Company’s
outstanding common stock for $3.00 per share in cash.
The Laird Superfood Board of Directors will carefully review the
proposal and determine the course of action that it believes is in
the best interests of the Company and all Laird Superfood
shareholders. Laird Superfood shareholders do not need to take any
action at this time.
Laird Superfood does not intend to further comment publicly on
these matters unless it determines it is in the best interest of
shareholders to do so.
About Laird Superfood
Laird Superfood, Inc. creates award-winning, plant-based
superfood products that are both delicious and functional. The
Company's products are designed to enhance your daily ritual and
keep consumers fueled naturally throughout the day. The Company was
co-founded in 2015 by the world's most prolific big-wave surfer,
Laird Hamilton. Laird Superfood's offerings are environmentally
conscientious, responsibly tested and made with real ingredients.
Shop all products online at lairdsuperfood.com and join the Laird
Superfood community on social media for the latest news and daily
doses of inspiration.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements may be identified by the use
of terminology such as “believe,” “expects,” “may,” “will,”
“intend,” “determine,” or similar expressions or the negative of
such expressions which are intended to identify forward-looking
statements. These forward-looking statements include, but are not
limited to, statements regarding the unsolicited offer from EF
Hutton SPV I LLC and the review thereof by the Company’s Board of
Directors. These forward-looking statements are based on Laird
Superfood’s current assumptions, expectations and beliefs and are
subject to substantial risks, uncertainties, assumptions and
changes in circumstances that may cause Laird Superfood’s actual
results, performance or achievements to differ materially from
those expressed or implied in any forward-looking statement.
These risks and uncertainties include, but are not limited to,
(1) volatility regarding our revenue, expenses, including shipping
expenses, and other operating results; (2) our ability to acquire
new direct and wholesale customers and successfully retain existing
customers; (3) our ability to attract and retain our suppliers,
distributors and co-manufacturers, and effectively manage their
costs and performance; (4) the financial condition of, and our
relationships with, our suppliers, co-manufacturers, distributors,
retailers and foodservice customers, as well as the health of the
foodservice industry generally; (5) the ability of ourselves, our
suppliers and co-manufacturers to comply with food safety,
environmental or other laws or regulations; (6) our plans for
future investments in our business, our anticipated capital
expenditures and our estimates regarding our capital requirements;
(7) the costs and success of our marketing efforts, and our ability
to promote our brand; (8) our reliance on our executive team and
other key personnel and our ability to identify, recruit and retain
skilled and general working personnel; (9) our concentrated
shareholder base my enable a small number of shareholders,
including our directors and officers, to affect matters requiring
shareholder approval (14) our ability to effectively manage our
growth; (10) our ability to compete effectively with existing
competitors and new market entrants; and (11) the growth rates of
the markets in which we compete, as well as risks set forth in the
Company's Annual Report on Form 10-K for the year ended December
31, 2021 and in the Company’s other filings with the Securities and
Exchange Commission. These forward-looking statements speak only as
of the date hereof. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
We expressly disclaim any obligation to update or alter any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220816005880/en/
ICR Reed Anderson 646-277-1260 Reed.Anderson@icrinc.com
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