Blum converts $6.2M AP to equity at $1.62/share; amends $800K note with related party

BLUM HOLDINGS, INC.

$6,165,050 of accounts payable converted into 3,808,559 shares at $1.62 (85% of $1.90 reference price).
Amended note with Douglas Rosenberg increases principal from $400K to $800K, due Dec 2026, no interest, convertible at 85% discount or $30M pre-money valuation.
Lender Rosenberg is Co-Founder/CEO of Mesh Ventures, related to Cookies; CEO Sabas Carrillo formerly CFO at Cookies.
Engagement fee with Adnant reduced to $75,000/month from $250,000/month in amended agreement.

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