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

Issuer:     BLUM HOLDINGS, INC. (BLMH)
CIK:        0001996210
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001437749-24-033964
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blum Holdings sells Blüm Oakland and Blüm San Leandro for total $3.18M in liability assumption
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1996210/000143774924033964/0001437749-24-033964-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1996210/000143774924033964/blmh20241107_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-033964

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