cbdMD converts all Series A Preferred to common, effects 1-for-8 reverse stock split

cbdMD, Inc.

All 5,000,000 outstanding 8% Series A Preferred shares automatically converted into 65,000,000 common shares on May 6, 2025.
Immediately after conversion, a 1-for-8 reverse stock split of common stock was effected; adjusted trading began May 7 on NYSE American.
No fractional shares issued; shareholders entitled to fractional shares receive one whole share.
Preferred dividends ceased accruing as of May 6, 2025; preferred stock stopped trading on NYSE American.
Shareholders approved both the conversion and reverse split at the April 10, 2025 annual meeting.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

cbdMD, Inc.: Filed Articles of Amendment to the Articles of Incorporation to effect a one-for-8 reverse stock split, effective May 6, 2025 (effective 2025-05-06).

Change: charter amendment
Effective: 2025-05-06

Exact text from the filing

effective May 6, 2025 and immediately following the Mandatory Exchange Date, the Company filed an Articles of Amendment to the Company’s Articles of Incorporation, as amended (the “Reverse Split Articles of Amendment”), which effected, at 4:02 p.m. Eastern Time on May 6, 2025, a one-for-8 reverse stock split of the Company’s issued and outstanding shares of Common Stock

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

cbdMD, Inc.: Filed Articles of Amendment to the Certificate of Designation to automatically convert Series A Preferred Stock into Common Stock, effective May 6, 2025 (effective 2025-05-06).

Change: charter amendment
Effective: 2025-05-06

Exact text from the filing

Effective May 6, 2025, the Company filed an Articles of Amendment to its the Certificate of Designation of Rights and Preferences 8.0% Series A Cumulative Convertible Preferred Stock (the “Automatic Preferred Conversion Articles of Amendment”) with the Secretary of State of the State of North Carolina effective 4:01 p.m. Eastern Time on May 6, 2025

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cbdMD, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-25-015119

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