Blum Holdings raises $1.5M via convertible notes at $0.98/share; issues warrants

BLUM HOLDINGS, INC.

Five unsecured promissory notes totaling $1.5M, 8% interest, maturities from Sep 2027 to Nov 2027.
Notes convertible at lender's option into shares at 85% of $20.9M pre-money valuation ($0.98/share).
Lender is an accredited investor who is a related person under Reg S-K.
Warrants to purchase up to ~1.71M shares at $0.35/share, expiring Dec 2028, issued with notes.
Notes formalize advances of $1.5M previously received in Sep-Oct 2025, as disclosed in Q3 10-Q.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

BLUM HOLDINGS, INC. incurred convertible notes of $500,000 with related accredited investor at 8.0% per annum maturing October 31, 2027.

Instrument: convertible notes
Principal: $500,000
Counterparty: related accredited investor
Rate: 8.0% per annum
Maturity: October 31, 2027
Event: incurrence

Exact text from the filing

On December 3, 2025, the Company executed and delivered an Unsecured Promissory Note in the principal amount of $500,000 (the “December 3rd Note”) to the Lender.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

BLUM HOLDINGS, INC. incurred convertible notes of $200,000 with related accredited investor at 8.0% per annum maturing October 30, 2027.

Instrument: convertible notes
Principal: $200,000
Counterparty: related accredited investor
Rate: 8.0% per annum
Maturity: October 30, 2027
Event: incurrence

Exact text from the filing

On December 2, 2025, the Company executed and delivered an Unsecured Promissory Note in the principal amount of $200,000 (the “December 2nd Note”) to the Lender.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

BLUM HOLDINGS, INC. incurred convertible notes of $500,000 with related accredited investor at 8.0% per annum maturing November 25, 2027.

Instrument: convertible notes
Principal: $500,000
Counterparty: related accredited investor
Rate: 8.0% per annum
Maturity: November 25, 2027
Event: incurrence

Exact text from the filing

On December 5, 2025, the Company executed and delivered an Unsecured Promissory Note in the principal amount of $500,000 (the “December 5th Note”) to the Lender.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

BLUM HOLDINGS, INC. incurred convertible notes of $100,000 with related accredited investor at 8.0% per annum maturing November 14, 2027.

Instrument: convertible notes
Principal: $100,000
Counterparty: related accredited investor
Rate: 8.0% per annum
Maturity: November 14, 2027
Event: incurrence

Exact text from the filing

On December 4, 2025, the Company executed and delivered an Unsecured Promissory Note in the principal amount of $100,000 (the “December 4th Note”) to the Lender.

View on SEC.gov

308 debt financings filed in the last 30 days. Browse all debt financings →

BLUM HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-25-037019

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