---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-037019"
form_type: "8-K"
ticker: "BLMH"
cik: "0001996210"
company_name: "BLUM HOLDINGS, INC."
filed_at: "2025-12-05T23:59:59+00:00"
generated_at: "2026-05-16T14:21:28.705182+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-25-037019
- form_type: 8-K
- ticker: BLMH
- cik: 0001996210
- company_name: BLUM HOLDINGS, INC.
- filed_at: 2025-12-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1996210/000143774925037019/0001437749-25-037019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1996210/000143774925037019/blmh20251203_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-037019
- JSON: https://secwatch.observer/filing/0001437749-25-037019.json
- Plain text: https://secwatch.observer/filing/0001437749-25-037019.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1996210/000143774925037019/0001437749-25-037019-index.htm
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1996210/000143774925037019/0001437749-25-037019-index.htm
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1996210/000143774925037019/0001437749-25-037019-index.htm
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1996210/000143774925037019/0001437749-25-037019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.