---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-002975"
form_type: "8-K"
ticker: "YCBD"
cik: "0001644903"
company_name: "cbdMD, Inc."
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T09:57:10.482073+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# cbdMD raises $1.25M via convertible notes with 8% interest, automatic conversion price adjustments

## Summary
- Gross proceeds $1.25M; aggregate principal $1.54M due to original issue discount.
- Notes mature July 30, 2025; 8% interest; initial conversion price $0.684, floor $0.30, adjusts automatically.
- Prepayment requires 125% of principal (25% premium); default interest up to 22%.
- Company to seek shareholder approval within 90 days for conversion shares exceeding 19.99% of outstanding.
- Notes secured by first-priority security interest on company assets.

## SEC filing metadata
- accession: 0001437749-24-002975
- form_type: 8-K
- ticker: YCBD
- cik: 0001644903
- company_name: cbdMD, Inc.
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1644903/000143774924002975/0001437749-24-002975-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1644903/000143774924002975/ycbd20240201_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-002975
- JSON: https://secwatch.observer/filing/0001437749-24-002975.json
- Plain text: https://secwatch.observer/filing/0001437749-24-002975.txt

## Key facts
- Material Agreements
  cbdMD, Inc. entered into Securities Purchase Agreement with five institutional investors valued at $1,250,000 gross proceeds (effective 2024-02-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: five institutional investors
  - Value: $1,250,000 gross proceeds
  - Effective: 2024-02-01
  source text: Effective February 1, 2024 (the “Closing Date”), cbdMD, Inc. (the “Company”) entered into a Securities Purchase Agreement dated January 30, 2024 (the “Purchase Agreement”) with five institutional investors (the “Investors”) whereby the Investors advanced the Company an aggregate of $1,250,000 gross proceeds and the Company issued each Investor an Senior Secured Original Issue Discount Convertible Promissory Note, in the aggregate principal amount of $1,541,666 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1644903/000143774924002975/0001437749-24-002975-index.htm

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