---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-020319"
form_type: "8-K"
ticker: "BLMH"
cik: "0001996210"
company_name: "BLUM HOLDINGS, INC."
filed_at: "2024-06-14T23:59:59+00:00"
generated_at: "2026-06-01T04:27:39.059625+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Blum Holdings sells Blüm Santa Ana dispensary, eliminates $44.5M in liabilities, books $34M gain

## Summary
- Sold 80% controlling interest in People's First Choice (Blüm Santa Ana) for total consideration of $24.8M ($9M cash + assumption of $15.8M liabilities).
- Extinguished $44.46M in total liabilities, including $22.2M promissory note to People's California, via debt settlement tied to the sale.
- Estimated pre-tax gain of $33.98M ($3.09 per share) from the disposition; pro forma Q1 2024 net income from continuing ops of $30.6M.
- Retains 20% non-economic, non-voting interest in PFC pending transfer of cannabis licenses; buyer Haven Nectar assumed operational control via MSA.
- Secured $1.0M promissory note paid over 12 months; transitional services provided for 30 days; royalty-free trademark license for up to 18 months.

## SEC filing metadata
- accession: 0001437749-24-020319
- form_type: 8-K
- ticker: BLMH
- cik: 0001996210
- company_name: BLUM HOLDINGS, INC.
- filed_at: 2024-06-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1996210/000143774924020319/0001437749-24-020319-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1996210/000143774924020319/blmh20240531_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-020319
- JSON: https://secwatch.observer/filing/0001437749-24-020319.json
- Plain text: https://secwatch.observer/filing/0001437749-24-020319.txt

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