Twinlab subsidiaries assign assets to creditors; sale to cbdMD for $3.98M; no shareholder recovery expected

TWINLAB CONSOLIDATED HOLDINGS, INC.

Three Twinlab subsidiaries (TCC, THI, OH) made assignments for benefit of creditors on Aug 21, 2026; petitions filed Aug 24 in Broward County, FL.
Asset Purchase Agreement with cbdMD: $3,979,805 price, incl. $1.75M secured note assumption and 2,229,805 cbdMD shares (19.9%) to Akretive.
Akretive holds $67.5M secured and $79M unsecured claims; TCC scheduled $80.9M unsecured debt; no recovery expected for equity holders.
Company to deconsolidate subsidiaries and record full impairment; no operating business, may become shell company, going concern doubt.

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