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Effective September 30, 2025, cbdMD, Inc. (the "Company") entered into Securities Purchase Agreements dated September 29, 2025 ("Purchase Agreements") with four institutional investors (the "Investors") whereby the Investors were issued an aggregate of 1,700,000 shares of Series B Convertible Preferred Stock ("Series B Preferred Stock") for aggregate gross proceeds of $1,700,000. The Company received net proceeds of $1,500,000 which shall be used for working capital purposes.
In addition, pursuant to the Purchase Agreements, the Company entered into a Registration Rights Agreement (the "Registration Rights Agreement") with each of the Investors pursuant to which the shares of common stock issuable upon conversion of the Series B Preferred Stock to the Investors are entitled to registration under the Securities Act of 1933. Pursuant to the Registration Rights Agreement, the Company is required to file a registration statement to register the shares underlying the Series B Preferred Stock within 30 days following the closing date.
Posted In: YCBD
