---
schema_version: "secwatch.filing_event.v1"
accession: "0001516551-23-000018"
form_type: "8-K"
ticker: "SKYE"
cik: "0001516551"
company_name: "Skye Bioscience, Inc."
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T11:12:50.599740+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Skye Bioscience closes sale of Verdélite Sciences for $9.48M; receives $5.60M cash at closing

## Summary
- Sold wholly owned subsidiary Verdélite Sciences and 88k sq ft cannabis facility in St-Eustache, Quebec to C3 Souvenir Holding.
- Cash proceeds of $5.60M received on Feb 10, 2023; total deal value $9.48M with deferred payments through 2026.
- Deferred payments: $0.12M by June 2023, $0.37M in 5 monthly installments starting Dec 2023, plus $2.80M in three equal anniversary payments.
- CEO states the closing payment extends operating runway and supports Phase 2 trial for SBI-100 OE (glaucoma drug).
- C3 acquires Emerald's Souvenir brand; deal brokered by Hyde Advisory and AMK Advisory Services.

## SEC filing metadata
- accession: 0001516551-23-000018
- form_type: 8-K
- ticker: SKYE
- cik: 0001516551
- company_name: Skye Bioscience, Inc.
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000018/0001516551-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000018/skye-20230209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001516551-23-000018
- JSON: https://secwatch.observer/filing/0001516551-23-000018.json
- Plain text: https://secwatch.observer/filing/0001516551-23-000018.txt

## Key facts
- M&A Transactions
  Skye Bioscience, Inc. completed a disposition involving C3 Souvenir Holding, Inc. for approximately USD$9,478,000 (closed 2023-02-09).
  - Action: disposition
  - Counterparty: C3 Souvenir Holding, Inc.
  - Consideration: approximately USD$9,478,000
  - Closing: 2023-02-09
  source text: acquire all of the outstanding shares of Verdélite Sciences, Inc., the holder of EHT's most significant real estate asset, for an aggregate purchase price of approximately USD$9,478,000, subject to certain adjustments. To facilitate the closing of the transactions contemplated by the Verdélite SPA, on February 9, 2023, EHT, the Purchaser and certain other related
  evidence_url: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000018/0001516551-23-000018-index.htm
- Material Agreements
  Skye Bioscience, Inc. amended Verdélite SPA with C3 Souvenir Holding, Inc. and certain other related parties valued at approximately USD$9,478,000 (effective 2023-02-09).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: C3 Souvenir Holding, Inc. and certain other related parties
  - Value: approximately USD$9,478,000
  - Effective: 2023-02-09
  source text: on February 9, 2023, EHT, the Purchaser and certain other related parties entered into a second amendment to the Verdélite SPA (the "Second Amendment")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000018/0001516551-23-000018-index.htm

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