{"schema_version":"secwatch.filing_event.v1","accession":"0001819615-24-000013","form_type":"8-K","ticker":null,"cik":"0001819615","company_name":"Clever Leaves Holdings Inc.","filed_at":"2024-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.683990+00:00","generated_at":"2026-06-04T07:19:17.566330+00:00","sec_items":["1.01","2.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Clever Leaves sells Herbal Brands for $8.02M; pro forma cash rises to $12.4M","bullets":["Disposed non-cannabinoid segment Herbal Brands to KAC Investments LLC for total consideration of $8.02M.","Received $7.02M cash at closing plus a $1M secured promissory note at 7.5% p.a., due March 21, 2025.","Pro forma cash & equivalents as of Sep 30, 2023 increased to $12.4M from $6.5M historical.","Nine-month 2023 pro forma net loss from continuing ops would be $15.6M vs historical $14.7M; discontinued ops income of $1.9M removed.","Company will now focus solely on its cannabinoid operations after the divestiture."],"urls":{"canonical":"https://secwatch.observer/filing/0001819615-24-000013","json":"https://secwatch.observer/filing/0001819615-24-000013.json","markdown":"https://secwatch.observer/filing/0001819615-24-000013.md","text":"https://secwatch.observer/filing/0001819615-24-000013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819615/000181961524000013/0001819615-24-000013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819615/000181961524000013/clvr-20240321.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T07:19:17.566330+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"691d014c85317dbc72a32da3771899a960cab75e","claim":"Clever Leaves Holdings Inc. completed a disposition involving KAC Investments LLC for $8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in (closed 2024-03-21).","evidence_excerpt":"On March 21, 2024 (the “Closing Date”), Clever Leaves Holdings, Inc. (the “Company”) and NS US Holdings, Inc. (the “Seller”), which is a wholly owned subsidiary of the Company, entered into a Stock Purchase Agreement (the “Purchase Agreement”) with KAC Investments LLC (the “Buyer”), pursuant to which the Company sold its non-cannabinoid business segment (the “Sale Transaction”), which is comprised of the Company’s wholly owned subsidiary Herbal Brands, Inc. (“HBI”, and together with the Company and the Seller, collectively the “Seller Parties”). The Purchase Agreement includes customary representations and warranties of the parties and post-closing indemnities. The Sale Transaction was completed on the Closing Date, for a purchase price of $8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in favor of the Seller in the original principal amount of $1.00 million (the “Note and Secu","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819615/000181961524000013/0001819615-24-000013-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"KAC Investments LLC"},{"label":"Consideration","value":"$8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in"},{"label":"Closing","value":"2024-03-21"}],"fact_type":"ma_transaction"},{"claim_id":"dd26e0e6c761889f3ba5b5f7c82044c69dfc951b","claim":"Clever Leaves Holdings Inc. entered into \"Purchase Agreement\" with KAC Investments LLC valued at $8.02 million (effective 2024-03-21).","evidence_excerpt":"On March 21, 2024 (the “Closing Date”), Clever Leaves Holdings, Inc. (the “Company”) and NS US Holdings, Inc. (the “Seller”), which is a wholly owned subsidiary of the Company, entered into a Stock Purchase Agreement (the “Purchase Agreement”) with KAC Investments LLC (the “Buyer”), pursuant to which the Company sold its non-cannabinoid business segment (the “Sale Transaction”), which is comprised of the Company’s wholly owned subsidiary Herbal Brands, Inc. (“HBI”, and together with the Company and the Seller, collectively the “Seller Parties”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819615/000181961524000013/0001819615-24-000013-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"KAC Investments LLC"},{"label":"Value","value":"$8.02 million"},{"label":"Effective","value":"2024-03-21"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}