Blum Holdings enters binding LOI to acquire Safe Accessible Solutions (Cookies Sacramento) for $1.67M

BLUM HOLDINGS, INC.

Total consideration: $1,000,071 secured promissory note ($23,811/mo over 42 months) plus 945,605 shares (~8.05% of Blum).
Under a Management Services Agreement, Blum subsidiary receives 100% of Target's economic benefit and will consolidate financial results.
Transaction subject to AICPA audit of Target and execution of definitive Stock Sale and Purchase Agreement.
Target's shareholders may exchange shares for a promissory note 24 months post-close, reducing purchase price to ~$3.6M.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BLUM HOLDINGS, INC. amended Amended LOI with Safe Accessible Solutions, Inc. valued at $1,671,451 (effective 2024-05-01).

Action: amendment
Agreement: merger
Counterparty: Safe Accessible Solutions, Inc.
Value: $1,671,451
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, the Company executed an amended and restated binding letter of intent (the “Amended LOI”) with Safe Accessible Solutions, Inc. (the "Target"), which amended and restated the Operators Only LOI in its entirety.

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BLUM HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-014673

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