cbdMD, Inc. Raises $1.5M in Preferred Stock Private Placement
Ticker: YCBD · Form: 8-K · Filed: Jul 16, 2024 · CIK: 1644903
| Field | Detail |
|---|---|
| Company | Cbdmd, Inc. (YCBD) |
| Form Type | 8-K |
| Filed Date | Jul 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, preferred-stock, private-placement
TL;DR
cbdMD just closed a $1.5M preferred stock deal to fund operations.
AI Summary
On July 5, 2024, cbdMD, Inc. announced the closing of a private placement of its Series A Cumulative Convertible Preferred Stock, raising approximately $1.5 million. The company issued 1,500 shares of Series A Preferred Stock at a purchase price of $1,000 per share. This capital infusion is intended to support the company's ongoing operations and strategic initiatives.
Why It Matters
This capital raise provides cbdMD, Inc. with crucial funding to continue its operations and pursue growth strategies, potentially impacting its market position and future performance.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the company's financial health and the effectiveness of its operational strategies remain key factors influencing its risk profile.
Key Numbers
- $1.5M — Capital Raised (Through the sale of Series A Cumulative Convertible Preferred Stock.)
- 1,500 — Shares Issued (Of Series A Cumulative Convertible Preferred Stock.)
- $1,000 — Price Per Share (For the Series A Cumulative Convertible Preferred Stock.)
Key Players & Entities
- cbdMD, Inc. (company) — Registrant
- Series A Cumulative Convertible Preferred Stock (security) — Type of stock issued in private placement
- $1.5 million (dollar_amount) — Total capital raised
- $1,000 (dollar_amount) — Purchase price per share of preferred stock
- July 5, 2024 (date) — Date of the private placement closing
FAQ
What was the total amount of capital raised by cbdMD, Inc. in the private placement?
cbdMD, Inc. raised approximately $1.5 million in the private placement.
What type of security was issued in the private placement?
The company issued Series A Cumulative Convertible Preferred Stock.
On what date did the private placement close?
The private placement closed on July 5, 2024.
What was the purchase price per share for the Series A Preferred Stock?
The purchase price per share was $1,000.
How many shares of Series A Preferred Stock were issued?
1,500 shares of Series A Cumulative Convertible Preferred Stock were issued.
Filing Stats: 480 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-07-16 16:19:11
Filing Documents
- ycbd20240716_8k.htm (8-K) — 23KB
- ycbd01.jpg (GRAPHIC) — 6KB
- 0001437749-24-022816.txt ( ) — 183KB
- ycbd-20240705.xsd (EX-101.SCH) — 4KB
- ycbd-20240705_def.xml (EX-101.DEF) — 13KB
- ycbd-20240705_lab.xml (EX-101.LAB) — 17KB
- ycbd-20240705_pre.xml (EX-101.PRE) — 13KB
- ycbd20240716_8k_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. As previously disclosed, on June 5, 2024, cbdMD, Inc. (the "Company") received notification (the "Notice") from the NYSE American LLC (the "NYSE American") that the Company is no longer in compliance with NYSE American's continued listing standards. The Notice provided that the Company must submit a plan of compliance (the "Plan") by July 5, 2024 addressing how it intends to regain compliance with the continued listing standards by December 5, 2025. The Company timely submitted the Plan to the NYSE American on July 5, 2024, advising of actions the Company intends to take to regain compliance with the continued listing standards. The Company expects to receive a response from NYSE American in August 2024.
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. cbdMD, Inc. Date: July 16, 2024 By: /s/ T. Ronan Kennedy T. Ronan Kennedy, Chief Executive Officer and Chief Financial Officer