cbdMD, Inc. Announces Closing of $2.25 Million Series C Preferred Stock Private Placement

Core Viewpoint - cbdMD, Inc. has entered into securities purchase agreements with institutional investors, issuing 1,000,000 shares of Series C Convertible Preferred Stock for gross proceeds of $2.25 million, aimed at supporting working capital and strategic initiatives [1][2]. Financial Details - The net proceeds from the issuance are approximately $2.1 million, which will be used for general corporate purposes and ongoing strategic initiatives [1]. - The Series C shares carry a 10% annual dividend and can be converted into common stock at an initial price of $2.25 per share, with anti-dilution protections [1]. Company Overview - cbdMD, Inc. is a leading wellness company that offers a range of U.S.-produced, 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 United States [4].