cbdMD acquires DirectCBDOnline.com for $2M cash plus up to 600k shares; appoints co-founder John Wiesehan as CRO

cbdMD, Inc.

Acquired DirectCBDOnline.com for $2M cash and 400k common shares at closing; up to 200k additional shares tied to earnout.
Appointed John Wiesehan III as Chief Revenue Officer (base salary $180k, potential bonus up to 40%, one-time $160k sales bonus).
Brad Trawick appointed Director of Procurement; both co-founded DirectCBDOnline and will drive growth.
DirectCBDOnline is CBD marketplace with oils, tinctures, gummies; acquisition adds distribution and scale to cbdMD platform.
Shares subject to 180-day lock-up; earnout requires $4M net sales from DirectCBDOnline in next 12 months.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

John J. Wiesehan III

Chief Revenue Officer

YCBD · cbdMD, Inc.

Effective: 2021-07-22
Filed: July 27, 2021, 7:59 PM ET

Mr. John J. Wiesehan III was appointed Chief Revenue Officer of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

John J. Wiesehan III was appointed as Chief Revenue Officer at cbdMD, Inc..

Action: appointed
Role: Chief Revenue Officer

Exact text from the filing

Mr. John J. Wiesehan III was appointed Chief Revenue Officer of the Company.

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cbdMD, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-21-008238

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