BLUM HOLDINGS, INC. (BLMH): M&A transaction — Blum Holdings sells Blüm Oakland and Blüm San Leandro for total $3.18M in liability assumption

BLUM HOLDINGS, INC.

Sold all shares of Blüm Oakland ($2.06M) and Blüm San Leandro ($1.12M) to VLPS, LLC via assumption of liabilities.
Pro forma balance sheet as of June 30, 2024 shows total assets reduced $3.9M to $34.4M and liabilities reduced $4.6M to $57.5M.
Pro forma net gain on disposal of $725K (H1 2024) and $283K (FY 2023) as assumed liabilities exceeded net assets.
Pro forma continuing ops net income $5.1M (H1 2024) vs. net loss $12.7M (FY 2023) after removing disposed entities.
Transactions closed on November 5, 2024 with buyer VLPS, LLC.

item 1.01 item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

BLUM HOLDINGS, INC. completed a disposition involving VLPS, LLC (closed 2024-11-05).

Action: disposition
Counterparty: VLPS, LLC
Closing: 2024-11-05

Exact text from the filing

On November 5, 2024, Blum Holdings, Inc. (the "Company"), through its wholly-owned subsidiary Unrivaled Brands, Inc. ("Unrivaled"), executed stock purchase agreements with VLPS, LLC (the "Buyer") pursuant to which Unrivaled sold all of the issued and outstanding shares of common stock of Black Oak Gallery ("Blüm Oakland") and Blüm San Leandro for an aggregate purchase price of $2,055,420 and $1,124,305, respectively.

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5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

BLUM HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-033964

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