Laird Superfood closes $38.5M Navitas acquisition, $50M Nexus preferred investment; Nexus gains control with 56.3% stake

Laird Superfood, Inc.

Acquired Navitas LLC and Global Superfoods for $38.5M cash; funded by $50M Series A Preferred issuance to Nexus affiliates.
Nexus holds Series A convertible at $3.57/share, representing 56.3% of common (73.9% if additional shares issued).
Board expanded to nine; Nexus designates four new directors plus Grant LaMontagne as chairman; two prior directors resigned.
Series A Preferred has 5% cumulative compounded quarterly dividend; mandatory conversion trigger after 30 months if price>7.50 and volume>100k avg.
Company may require Nexus to purchase up to $60M additional Preferred for future strategic acquisitions.

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Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.95

Laird Superfood, Inc. issued 50,000 Initial Shares of Series A Preferred Stock of preferred stock to Nexus Investment for $50.0 million in gross proceeds.

Security: preferred stock
Shares: 50,000 Initial Shares of Series A Preferred Stock
Purchaser: Nexus Investment
Consideration: $50.0 million in gross proceeds

Exact text from the filing

on the Closing Date, the Investor purchased the Initial Shares from the Company for gross proceeds of $50.0 million.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Laird Superfood, Inc. entered into Registration Rights Agreement with Nexus.

Action: entry
Counterparty: Nexus

Exact text from the filing

“ Nexus Investment ” and, together with the Navitas Acquisition, the “ Transactions ”). A substantial portion of the proceeds from the Nexus Investment were used to complete the Navitas Acquisition.

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Laird Superfood, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-26-007994

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