grwg-20220621FALSE000160486800016048682022-06-212022-06-21
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): June 21, 2022
GROWGENERATION CORP.
(Exact Name of Registrant as Specified in its Charter)
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| Colorado | | 333-207889 | | 46-5008129 |
(State or other Jurisdiction
of Incorporation) | | (Commission File Number) | | (I.R.S. Employer
Identification No.) |
5619 DTC Parkway, Suite 900
Greenwood Village, CO 80111
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (800) 935-8420
N/A
(Former Address of Principal Executive Offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation under any of the following provisions (see General Instruction A.2. below):
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4(c)) |
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. ☐
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | | Trading symbol | | Name of each exchange on which registered |
| Common Stock, par value $0.001 per share | | GRWG | | The NASDAQ Stock Market LLC |
Section 8 – Other Events
Item 8.01. Other Events
On June 21, 2022, GrowGeneration Corp. (the “Company”) published a press release regarding the opening of a new hydroponic garden center to serve the emerging Mississippi market, which will be the Company's 64th store nationwide and will expand the number of states the Company operates in to 14.
A copy of the press release is attached hereto as Exhibit 99.1. The information contained in this Current Report on Form 8-K (including the exhibit) is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
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| Exhibit No. | Description |
| 99.1 | |
| 104 | Cover Page Interactive Data File, formatted XBRL Document |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Date: June 21, 2022 | GrowGeneration Corp. |
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| | By: | /s/ Darren Lampert |
| | Name: | Darren Lampert |
| | Title: | Chief Executive Officer |
GrowGeneration Announces Jackson, Mississippi Store Opening June 27, 2022
New Signed Leases in Virginia and Missouri Will Expand the Number of States to 16 GrowGen Will Operate In
Denver, June 21, 2022 – GrowGeneration Corp. (NASDAQ: GRWG) (“GrowGen” or the “Company”), the nation’s largest chain of specialty hydroponic and organic garden centers, today announced the opening of a new hydroponic garden center to serve the emerging Mississippi market. The new store at 4251 Industrial Drive in Jackson becomes the first in Mississippi, and the Company’s 64th store nationwide and will expand the number of states the Company operates in to 14. The store will open on June 27, 2022. Additionally, the Company has signed two leases in North Chesterfield, Virginia and Hazelwood, Missouri. These stores are expected to be opened in the second half of 2022 and will expand the number of states GrowGen operates in to 16.
“This new 40,000 square foot store in Mississippi is the first of many GrowGen Hydroponic garden centers that will capture the important and emerging markets across the Southeast,” said Darren Lampert, CEO of GrowGeneration. “Like Oklahoma, Mississippi allows for unlimited medical cultivation licenses making it an ideal market for GrowGen’s one-stop shop that provides new and existing cultivators seed to harvest solutions, including turnkey facility design, cultivation room design, and on-site project consultation, as well as access to the Company’s burgeoning line of successful private label products. Additionally, Mississippi and the Delta Region are emerging as a prime market to apply indoor controlled environment agriculture and vertical gardening to food agriculture. This new store continues GrowGen’s tradition of having the largest selection, best service and grow professionals, to deliver solutions for all types of growers to become the leading hydroponics retailer in the states where it operates.”
Continued Lampert, “These new store leases in Virginia and Missouri are the first of many the Company expects to announce that will increase our reach in new and emerging markets. These new stores will feature vertical farming demonstrations and educational support for new growers
to set up and maintain state-of-the-art grow operations that will help them maximize their investments in vertical farming. In addition to new store leases, we continue to build out our distribution capabilities on a regional basis to deliver our products to new and existing growers efficiently and profitably.”
About GrowGeneration Corp:
GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 64 stores, which include 23 locations in California, 8 locations in Colorado, 5 locations in Maine, 7 locations in Michigan, 1 location in Mississippi, 6 locations in Oklahoma, 4 locations in Oregon, 3 locations in Washington, 2 locations in Nevada, 1 location in Arizona, 1 location in Rhode Island, 1 location in Florida, 1 location in Massachusetts and 1 location in New Mexico. GrowGeneration also operates an online superstore for cultivators at growgeneration.com. GrowGeneration carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.
Company Inquiries
GrowGeneration Corp.
John Evans
(415) 309-0230
john.evans@growgeneration.com
Investor Contact
ICR, Inc.
Clay Crumbliss, CFA
Managing Director
clay.crumbliss@icrinc.com
