cbdMD raises ~$2.5M net in underwritten public offering of 1.35M shares at $2.10

cbdMD, Inc.

Issued 1,350,000 common shares at $2.10 each; gross proceeds ~$2.8M, net ~$2.5M.
Maxim Group LLC sole book-runner; granted 45-day option for up to 202,500 additional shares.
Net proceeds for general working capital and selective M&A; underwriter received a 40,500-share warrant at $2.52.
Offering closed May 3, 2023; 75-day lock-up for company, 90-day for officers/directors.
One executive and one employee purchased up to $20,000 of shares at offering price in the offering.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

cbdMD, Inc. entered into Underwriting Agreement with Maxim Group LLC valued at $2.5 million (effective 2023-04-30).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: $2.5 million
Effective: 2023-04-30

Exact text from the filing

On April 30, 2023, cbdMD, Inc., a North Carolina corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with Maxim Group LLC as representative of the underwriters named therein (the “Underwriter”) relating to the issuance and sale of 1,350,000 shares of the Company’s common stock, par value $0.001 per share (the “Offering”).

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33 material agreements filed in the last 30 days. Browse all material agreements →

cbdMD, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-012366

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