secwatch.observer — SEC 8-K summary
======================================

Issuer:     cbdMD, Inc. (YCBD)
CIK:        0001644903
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0001437749-24-002975
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1644903/000143774924002975/0001437749-24-002975-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1644903/000143774924002975/ycbd20240201_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-002975

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer