cbdMD, Inc. Announces Closing of $1.7 Million Series B Preferred Private Placement

Core Points - cbdMD, Inc. has completed a Series B Preferred Private Placement, raising $1.7 million from institutional investors [1][2] - The company plans to use the net proceeds of $1.5 million for working capital and general corporate purposes [1][2] - The Series B Convertible Preferred Stock issued has a 10% annual dividend and is convertible into common stock at an initial price of $1.00 per share [2] Financial Position - The CEO stated that the company ended the fiscal year with over $2.2 million in cash, indicating a strengthened balance sheet [2] - The financing is aimed at bolstering shareholder equity and supporting ongoing initiatives for distribution expansion and profitability [2] Company Overview - cbdMD, Inc. is a wellness company offering a range of hemp-derived cannabinoid products, including CBD, CBG, and CBN [4] - The company emphasizes quality, innovation, and transparency, distributing products online and through retail partners across the U.S. [4]