Laird Superfood acquires Terrasoul for $48M cash plus $5M earnout; Nexus invests $60M in preferred stock

Laird Superfood, Inc.

Acquisition of Terrasoul Superfoods for $48M cash, up to $5M earnout; Terrasoul had $65.8M unaudited net sales in FY2025.
Funded by $60M Series A Convertible Preferred issuance to Nexus Capital affiliates; Nexus to own ~71.7% fully diluted.
Dennis Botts, Terrasoul co-founder, enters 2-year advisory agreement for $1.5M paid monthly.
Seller parties subject to 3-5 year non-compete and restrictive covenants post-closing.
Financial statements of Terrasoul to be filed within 71 days via 8-K amendment.

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