Laird Superfood to acquire Navitas for $38.5M and issue $50M Series A Preferred; Nexus gets ~53.5% stake

Laird Superfood, Inc.

Purchase price $38.5M cash for Navitas and GSC; expected close Q1 2026 subject to stockholder approval.
Nexus affiliates invest $50M in Series A Preferred Stock convertible at $3.57, 5% dividend.
Nexus will hold ~53.5% diluted ownership and appoint five of nine Board members post-closing.
Voting agreements with insiders to support Preferred Stock Issuance; termination fees up to $2M.
Company may require up to $60M additional Series A issuance for future strategic transactions.

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