cbdMD shareholders approve automatic conversion of Series A Preferred Stock into common at 13:1

cbdMD, Inc.

Shareholders approved automatic conversion of each Series A Preferred share into 13 common shares, eliminating $6.7M in accrued dividends and $4M annual dividend obligations.
Seven directors elected: Bakari Sellers, William F. Raines III, Scott G. Stephen, Dr. Sybil Swift, T. Ronan Kennedy, Jeffrey Porter, Kevin Roe.
Shareholders ratified Cherry Bekaert LLP as independent auditor for fiscal year ending Sept 30, 2025.
Shareholders authorized reverse stock split at a ratio from 1:3 to 1:10, at Board's discretion within one year.
CEO Ronan Kennedy stated conversion will strengthen balance sheet and enable strategic activity including M&A.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.