cbdMD, Inc. Announces Closing of $17,250,000 Underwritten Public Offering of Its 8.0% Series A Cumulative Convertible Preferr...
December 11 2020 - 11:30AM
Business Wire
cbdMD, Inc. (NYSE American: YCBD, YCBDpA), today announced the
closing of its previously announced underwritten public offering
for total gross proceeds of $17,250,000, before deducting
underwriting discounts, commissions and other offering expenses
payable by the company. cbdMD, Inc. sold an aggregate of 2,300,000
shares of its 8.0% Series A Cumulative Convertible Preferred Stock
at a purchase price of $7.50 per share in this offering which
included the full exercise of the over-allotment option of 300,000
shares. cbdMD, Inc. intends to use the net proceeds from the
offering for working capital.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as representative of the underwriters in 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 will also be 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. is a nationally recognized consumer cannabidiol
(CBD) brand whose current products include CBD tinctures, CBD
capsules, CBD gummies, CBD topicals, CBD bath bombs, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201211005011/en/
John Weston Director of Investor Relations john.weston@cbdmd.com
704-249-9515
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