Blum Holdings converts $3.05M debt to equity, issues ~5.8M shares; new $525K secured note

BLUM HOLDINGS, INC.

Converted $3.05M of unsecured debt & accrued interest into 3,248,547 shares at $0.98/share.
Issued 2,551,020 shares to Adnant LLC (CEO's affiliate) for performance-based award at $0.98/share.
New $525K senior secured note consolidates prior notes, 8% interest, matures Dec 31, 2027.
Warrants to purchase 198,114 shares at $0.53 cancelled.
Pre-money valuation for conversions set at $20.9M fully diluted.

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