---
schema_version: "secwatch.filing_event.v1"
accession: "0001516551-23-000016"
form_type: "8-K"
ticker: "SKYE"
cik: "0001516551"
company_name: "Skye Bioscience, Inc."
filed_at: "2023-01-27T23:59:59+00:00"
generated_at: "2026-06-20T07:10:21.156467+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Skye Bioscience faces $4.85M jury verdict in wrongful termination case; amends Verdeilite sale terms

## Summary
- Jury awards Wendy Cunning $512,500 economic, $840,960 non-economic, and $3.5M punitive damages; company plans to appeal.
- Amendment to Verdeilite stock purchase agreement reduces purchase price by ~$30k and adjusts payment terms to 5 monthly installments starting Dec 31, 2023.
- Buyer must use best efforts to obtain ~$123k C3 Excise Bond refund from Canada Revenue Agency and remit to Emerald Health.
- Exhibit shows total purchase consideration remains ~CAD$12.71M, with deferred payments bearing interest up to Prime +5.55%.

## SEC filing metadata
- accession: 0001516551-23-000016
- form_type: 8-K
- ticker: SKYE
- cik: 0001516551
- company_name: Skye Bioscience, Inc.
- filed_at: 2023-01-27T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000016/0001516551-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000016/skye-20230126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001516551-23-000016
- JSON: https://secwatch.observer/filing/0001516551-23-000016.json
- Plain text: https://secwatch.observer/filing/0001516551-23-000016.txt

## Key facts
- Material Agreements
  Skye Bioscience, Inc. amended SPA Amendment with C3 Souvenir Holding, Inc. (Purchaser) and certain other related parties valued at approximately USD$30,000 (effective 2023-01-26).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: C3 Souvenir Holding, Inc. (Purchaser) and certain other related parties
  - Value: approximately USD$30,000
  - Effective: 2023-01-26
  source text: On January 26, 2023, EHT, Purchaser, and certain other related parties entered into an amendment to the Verdélite SPA (the "SPA Amendment")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000016/0001516551-23-000016-index.htm

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