Blum Holdings signs binding LOI to acquire NorCal dispensary for $2M; target had $18M gross revenue in 2024

BLUM HOLDINGS, INC.

Total consideration $2.0M: $1.3M cash at close, $200K cash/stock earn-out, $500K in BLMH stock at $1.90/share held in escrow 12 months.
Target generated unaudited ~$18.0M gross revenue and ~$13.0M net revenue for 2024.
Concurrently, Blum issued a $500K senior secured convertible note to seller at 8% interest maturing March 31, 2025.
Deal includes performance-based bonus awards and operational targets for expense reduction and EBITDA improvement.
Transaction remains subject to negotiation and execution of definitive agreements; no assurance of closing.

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