---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-012942"
form_type: "8-K"
ticker: "LSF"
cik: "0001650696"
company_name: "Laird Superfood, Inc."
filed_at: "2026-04-21T23:59:59+00:00"
generated_at: "2026-05-15T05:07:09.067578+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-26-012942
- form_type: 8-K
- ticker: LSF
- cik: 0001650696
- company_name: Laird Superfood, Inc.
- filed_at: 2026-04-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650696/000143774926012942/0001437749-26-012942-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650696/000143774926012942/lsf20260421_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-012942
- JSON: https://secwatch.observer/filing/0001437749-26-012942.json
- Plain text: https://secwatch.observer/filing/0001437749-26-012942.txt

## Key facts
- M&A Transactions
  Laird Superfood, Inc. completed an acquisition involving Terrasoul Superfoods, LLC (Terrasoul) for $48.0 million in cash, subject to customary purchase price adjustments, including adjustments for working capital, cash, debt and transaction expenses and poten (closed 2026-04-21).
  - Action: acquisition
  - Counterparty: Terrasoul Superfoods, LLC (Terrasoul)
  - Consideration: $48.0 million in cash, subject to customary purchase price adjustments, including adjustments for working capital, cash, debt and transaction expenses and poten
  - Closing: 2026-04-21
  source text: Interests (as defined in the Terrasoul Acquisition Agreement) which constitute all of the issued and outstanding equity interests of Terrasoul, for a purchase price of (i) $48.0 million in cash, subject to customary purchase price adjustments, including adjustments for working capital, cash, debt and transaction expenses and (ii) potential earnout consideration
  evidence_url: https://www.sec.gov/Archives/edgar/data/1650696/000143774926012942/0001437749-26-012942-index.htm
- Material Agreements
  Laird Superfood, Inc. entered into Terrasoul Acquisition Agreement with the Seller valued at $48.0 million in cash plus potential earnout consideration of up to $5.0 million in cash.
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: the Seller
  - Value: $48.0 million in cash plus potential earnout consideration of up to $5.0 million in cash
  source text: for a purchase price of (i) $48.0 million in cash, subject to customary purchase price adjustments, including adjustments for working capital, cash, debt and transaction expenses and (ii) potential earnout consideration of up to $5.0 million in cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1650696/000143774926012942/0001437749-26-012942-index.htm

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