Aterian Makes Strategic Minority Equity Investment in 4th & Heart
NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Aterian, Inc. (NASDAQ:ATER) ("Aterian" or the "Company") today announced the recent closing of a strategic minority equity investment in 4th & Heart, the leading U.S. maker of premium ghee butter products.
The Company invested approximately $0.2 million in cash and approximately 145,000 shares of Aterian common stock. No other terms of the transaction were disclosed.
"We are excited to announce our participation in 4th & Heart's funding round and we look forward to exploring potential strategic opportunities between our two companies," said Joe Risico, Aterian's Co-CEO. "Like our Squatty Potty brand, we see a lot of value in partnering and investing in brands that offer consumers the opportunity to live a healthier, better life and that's what 4th & Heart does with its ghee products."
"The partnership with Aterian will fuel the growth we're seeing at 4th & Heart in both current and emerging markets. Like Aterian's other products, 4th & Heart pushes boundaries, and we're excited to unlock future potential together," said Max Dichter, 4th & Heart's CEO.
To find 4th & Heart in a store near you please visit: 4th & Heart
To find 4th & Heart on Amazon.com in the U.S., please visit: 4th & Heart on Amazon.com
About Aterian, Inc.
Aterian, Inc. (NASDAQ:ATER) is a technology-enabled consumer products company that builds and acquires leading e-commerce brands with top selling consumer products, in multiple categories, including home and kitchen appliances, health and wellness and air quality devices. The Company sells across the world's largest online marketplaces with a focus on Amazon and Walmart in the U.S. and on its own direct to consumer websites.
About 4th & Heart
4th & Heart, based in Marina del Rey, California and launched in 2015, has been on a mission to revolutionize the modern-day pantry with an ancient Ayurvedic staple, ghee butter. 4th & Heart's products are placed nationwide in over 12,000 stores including: Whole Foods, Kroger, Albertsons, Publix, Wegmans, and Walmart. 4th & Heart continues to reinvent the ways consumers can incorporate grass-fed ghee into daily diets by providing a variety of kitchen essentials including delicious flavored spreads and oils.
Forward Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements regarding potential strategic opportunities between our two companies, growth and future potential. These forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to customer demand for our products in light of the current macroeconomic environment in the U.S. and globally; global shipping disruptions; our ability to continue as a going concern; our ability to meet financial covenants with our lenders; our ability to create operating leverage and efficiency when integrating companies that we acquire or have acquired, including through the use of our team's expertise, the economies of scale of our supply chain and automation driven by our platform; our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; the impact of COVID-19, the war in the Ukraine, the rising tensions between China and Taiwan and other macroeconomic factors, including their impact on consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; the impact of intangible assets such as goodwill, and other impairments; disruptions to the Company's information technology systems, including but not limited to potential or actual security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; our ability to disrupt the consumer products industry; our ability to maintain and grow market share in existing and new product categories; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue and expenses; acquisitions of other companies and technologies and our ability to successfully integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the "Risk Factors" section of our most recent periodic reports filed with the Securities and Exchange Commission ("SEC"), all of which you may obtain for free on the SEC's website at www.sec.gov.
Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Investor Contact: Ilya Grozovsky Vice President, Investor Relations & Corp. Development Aterian, Inc. [email protected] 917-905-1699 aterian.io
