---
schema_version: "secwatch.filing_event.v1"
accession: "0001279569-23-000434"
form_type: "8-K"
ticker: "CWBHF"
cik: "0001750155"
company_name: "Charlotte's Web Holdings, Inc."
filed_at: "2023-04-07T23:59:59+00:00"
generated_at: "2026-06-17T04:39:44.197471+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Charlotte's Web forms JV with BAT and AJNA to develop FDA-approved hemp botanical drug

## Summary
- BAT invests $10M for 20% preferred equity; Charlotte's Web and AJNA each hold 40% voting common.
- JV plans FDA IND filing and Phase I clinical trial in 2023 targeting a neurological condition.
- Dr. Orrin Devinsky, lead Epidiolex investigator, to head JV clinical and regulatory strategy.
- BAT is a related party due to its $56.8M convertible debenture; JV exempt from formal valuation and minority approval.
- Charlotte's Web contributes proprietary hemp IP and clinical data; AJNA provides lab and regulatory services.

## SEC filing metadata
- accession: 0001279569-23-000434
- form_type: 8-K
- ticker: CWBHF
- cik: 0001750155
- company_name: Charlotte's Web Holdings, Inc.
- filed_at: 2023-04-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750155/000127956923000434/0001279569-23-000434-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750155/000127956923000434/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001279569-23-000434
- JSON: https://secwatch.observer/filing/0001279569-23-000434.json
- Plain text: https://secwatch.observer/filing/0001279569-23-000434.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.