cbdMD, Inc. Announces Closing of $18.4 Million Underwritten Public Offering of Common Stock
January 14 2020 - 11:30AM
Business Wire
cbdMD, Inc. (NYSE American: YCBD, YCBD PR A), today announced
the closing of its previously announced underwritten public
offering for total gross proceeds of $18,400,000, before deducting
underwriting discounts, commissions and other offering expenses
payable by the company. cbdMD sold an aggregate of 18,400,000
shares of its common stock at a purchase price to the public of
$1.00 per share in this offering, which included the full exercise
by the underwriters of the over-allotment option of 2,400,000
shares of common stock.
cbdMD, Inc. intends to use the net proceeds from the offering
for working capital.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager for the offering and The
Benchmark Company, LLC acted as co-manager for the offering.
Copies of the final prospectus supplement and accompanying
prospectus related to the offering may be obtained from
ThinkEquity, a division of Fordham Financial Management, Inc., 17
State Street, 22nd Floor, New York, New York 10004, by telephone at
(877) 436-3673, by email at prospectus@think-equity.com. Electronic
copies of the final prospectus supplement and accompanying
prospectus are also available on the SEC’s website at
http://www.sec.gov. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About cbdMD, Inc.
cbdMD, Inc. (NYSE American: YCBD, YCBD PR A) owns and operates
the nationally recognized consumer cannabidiol (CBD) brand cdbMD,
whose current products include CBD gummies, CBD tinctures, CBD
topical, CBD bath bombs, CBD oils and CBD pet products.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the public offering and the intended use of proceeds from
the offering. These forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ
materially, including market conditions, risks associated with the
cash requirements of our business and other risks detailed from
time to time in our filings with the Securities and Exchange
Commission, and represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200114005655/en/
cbdMD, Inc. Mark S. Elliott, Chief Financial Officer and Chief
Operating Officer (704) 445-3051 Mark.Elliott@cbdmd.com
cbdMD (AMEX:YCBD)
Historical Stock Chart
From Mar 2024 to Apr 2024
cbdMD (AMEX:YCBD)
Historical Stock Chart
From Apr 2023 to Apr 2024