secwatch.observer — SEC 8-K summary
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Issuer:     cbdMD, Inc. (YCBD)
CIK:        0001644903
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001437749-23-024369
Event type: dividend
Sentiment:  negative
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

cbdMD suspends Series A Preferred dividend, proposes mandatory conversion to common shares
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- Monthly cash dividend on 8% Series A Preferred suspended starting Aug 31, 2023 to conserve cash.
- Unpaid dividends accumulate; after 12 months of non-payment, preferred holders can elect two additional directors.
- Board proposes converting each Series A Preferred share into 3 common shares; special meeting vote on Sept 22, 2023.
- Amendment requires majority of common and 2/3 of preferred votes; if passed, preferred rights and accrued dividends are forfeited.
- Suspension may limit ability to raise capital under existing Form S-3 registration statement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1644903/000143774923024369/0001437749-23-024369-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1644903/000143774923024369/ycbd20230821_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-024369

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