cbdMD extends warehouse lease through 2031, cuts footprint and annual rent by ~$450k

cbdMD, Inc.

Third Amendment to Lease extends term 62 months to Nov 30, 2031 for 40,000 sq ft (down from 80,000).
Monthly base rent starts at $38,000 ($11.40 PSF) with annual increases to $46,233 ($13.87 PSF).
Base rent abated Oct–Nov 2026; additional abatement if wall construction not completed by Dec 31, 2026.
Annual gross rent expense reduction of ~$450,000; net reduction of ~$100,000–$120,000 after sublet rent.
Management states reduced footprint aligns with current and long-term needs and lowers operating expenses.

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