BLUM HOLDINGS, INC. Files Material Definitive Agreement 8-K
Ticker: BLMH · Form: 8-K · Filed: Jan 14, 2025 · CIK: 1996210
| Field | Detail |
|---|---|
| Company | Blum Holdings, INC. (BLMH) |
| Form Type | 8-K |
| Filed Date | Jan 14, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $359,610, $0.64, $8,990,261, $800,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, 8-k
TL;DR
BLUM HOLDINGS, INC. signed a big deal on Jan 8th, filed the 8-K on Jan 14th.
AI Summary
On January 8, 2025, BLUM HOLDINGS, INC. entered into a material definitive agreement. The company, incorporated in Delaware with its principal executive offices in Downey, California, filed this 8-K report on January 14, 2025. The filing pertains to a current report under the Securities Exchange Act of 1934.
Why It Matters
This filing indicates a significant new agreement for BLUM HOLDINGS, INC., which could impact its business operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Numbers
- 000-56626 — SEC File Number (Identifies the company's filings with the SEC.)
- 93-3735199 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- BLUM HOLDINGS, INC. (company) — Registrant
- January 8, 2025 (date) — Date of earliest event reported
- January 14, 2025 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Downey, California (location) — Principal executive offices
- 000-56626 (filing_id) — SEC File Number
- 93-3735199 (tax_id) — IRS Employer Identification No.
FAQ
What type of material definitive agreement did BLUM HOLDINGS, INC. enter into?
The filing states that BLUM HOLDINGS, INC. entered into a 'Material Definitive Agreement' on January 8, 2025, but the specific details of the agreement are not provided in the excerpt.
When was this 8-K report filed?
This 8-K report was filed on January 14, 2025.
Where are BLUM HOLDINGS, INC.'s principal executive offices located?
The principal executive offices of BLUM HOLDINGS, INC. are located at 11516 Downey Ave., Downey, California.
In which state was BLUM HOLDINGS, INC. incorporated?
BLUM HOLDINGS, INC. was incorporated in Delaware.
What is the SEC File Number for BLUM HOLDINGS, INC.?
The SEC File Number for BLUM HOLDINGS, INC. is 000-56626.
Filing Stats: 803 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2025-01-14 15:27:08
Key Financial Figures
- $359,610 — the Transaction, the Company shall pay $359,610 in cash to Mesh to pay agreed upon debt
- $0.64 — f Common Stock, at an exercise price of $0.64 per share. The aggregate value exchange
- $8,990,261 — value exchanged is expected to equal to $8,990,261. The Transaction structure is yet to b
- $800,000 — ber 31, 2024 in the principal amount of $800,000 with Mr. Rosenberg. The Unsecured Promi
Filing Documents
- blmh20250113_8k.htm (8-K) — 29KB
- ex_765261.htm (EX-10.1) — 21KB
- 0001437749-25-001098.txt ( ) — 175KB
- blmh-20250108.xsd (EX-101.SCH) — 3KB
- blmh-20250108_def.xml (EX-101.DEF) — 10KB
- blmh-20250108_lab.xml (EX-101.LAB) — 14KB
- blmh-20250108_pre.xml (EX-101.PRE) — 10KB
- blmh20250113_8k_htm.xml (XML) — 2KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On January 8, 2025, Blum Holdings, Inc. ("Blm" or the "Company") entered into a binding term sheet (the "Term Sheet") with Mesh Ventures, LLC ("Mesh") pursuant to which the Company intends to negotiate and enter into a Merger Agreement or Share Exchange Agreement, or similarly situated document for the Company's acquisition of 100% of the membership interests of Mesh (the "Transaction"). Upon closing of the Transaction, the Company shall pay $359,610 in cash to Mesh to pay agreed upon debts and liabilities and shall issue 4,531,965 shares of Common Stock of the Company (the "Common Stock") to the various holders of the membership interests of Mesh (the "Sellers"). The Company shall also issue to the Sellers warrants to purchase, in the aggregate, up to 471,989 shares of Common Stock, at an exercise price of $0.64 per share. The aggregate value exchanged is expected to equal to $8,990,261. The Transaction structure is yet to be determined based on the due diligence findings as well as business, legal, tax, accounting and other considerations. Each of the parties' obligations to close the Transaction will be subject to customary conditions and other conditions agreed to by the parties to be included in the definitive agreements for the Transaction, including but not limited to the receipt of all necessary approvals and consents required by each party to complete the Transaction. No assurances can be made that the Company will be successful in completing the Transaction. Founded in 2017, Mesh Ventures, LLC is a venture capital investment firm based in Sausalito, California that seeks to make investments in the cannabis industry and holds a significant investment in Cookies Creative Productions & Consulting, Inc. ("Cookies"). Douglas Rosenberg is the Co-Founder and CEO of Mesh Ventures. The Company has an Unsecured Promissory Note dated December 31, 2024 in the principal amount of $800,000 with Mr. Rosenberg. Th
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 10.1 Binding Term Sheet. 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLUM HOLDINGS, INC. Date: January 14, 2025 By: /s/ Sabas Carrillo Sabas Carrillo Chief Executive Officer 3