Blum Holdings sells controlling stake in Blüm Santa Ana, eliminates $44.5M debt, estimates $34M gain

BLUM HOLDINGS, INC.

Total consideration of $24.8M: $9M cash plus $15.84M in assumed liabilities; cash used to settle debt and litigation.
Transaction extinguishes estimated $44.46M in liabilities, reducing total debt by over 55%.
Estimated gain of $33.98M ($3.09 per common share) from the disposition.
Since August 2022, total liability reduction estimated at $90M as part of restructuring plan.
Blüm brand licensed to buyer for up to 18 months under Trademark License Agreement.

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