Blum Holdings issues $750K in unsecured promissory notes with 8% interest and equity conversion

BLUM HOLDINGS, INC.

Two notes totaling $750K: $500K on Sep 16 and $250K on Sep 17, 2025, both maturing Sep 2027.
Interest at 8% per annum, payable monthly in arrears commencing Jan 15, 2026; prepayment without penalty.
Lender may convert into convertible notes with automatic conversion at 85% of $20.9M pre-money valuation ($0.98/share).
Warrants issued: 571,429 shares at $0.35 for $500K note; 285,714 shares at $0.35 for $250K note.
$500K note formalizes advance received Aug 11, 2025, previously disclosed in Q2 10-Q.

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