Is this a down round?
Why are the share prices lower than what I have purchased at in the past?
Over the past six months, we've significantly improved our business, restructured the organization, boosted revenue, and advanced production. We are more confident than ever in our team's ability to drive Graze toward profitability. We're right sizing our valuation to facilitate raising capital efficiently and securing the best rates. We’ve opened this opportunity to make sure our current investors have the opportunity to invest at this lower cost. You’re important to our growth.
More specifically, the market in 2023 and into 2024, has significantly reduced technology companies’ valuations on the back of a number of factors including cost of capital, interest rates, inflation, and political elements outside of our control. In an effort to ensure Graze can raise capital in the most efficient manner possible, it was necessary to right size the valuation to match current market conditions. This allows the company to be in position to re-capitalize, and re-position our growth targets to those aligned with a future Series A.