8-K
Can B Corp (NASC)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Dateof Report (Date of earliest event reported): March 14, 2024
CAN
B CORP.
(Exactname of registrant as specified in its charter)
| Florida | 000-55753 | 20-3624118 |
|---|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation) | (Commission<br><br> <br>File Number) | (IRS Employer<br><br> <br>Identification No.) |
| 960 South Broadway, Suite 120 | ||
| --- | --- | |
| Hicksville, NY 11801 | 11801 | |
| (Address of principal executive offices) | (Zip Code) |
(516)595-9544
Registrant’s
telephone number, including area code
NotApplicable
Former
name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| None | N/A | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM
2.01. COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
On March 14, 2024, the previously announced auction of assets of the hemp division of Can B Corp. (the “Company”) under Article 9 of the Uniform Commercial Code was completed. The auction resulted in proceeds of approximately $300,000 from the sale of certain equipment to multiple bidders, which has been applied to the Company’s obligations under Convertible Notes held by Arena Special Opportunities Partners I, L.P., Arena Special Opportunities Fund, LP and Arena Investors, L.P.
While the Company plans to continue its hemp operations and its Duramed Inc. medical device division for the foreseeable future, its primary focus will be on protecting and commercializing the cannabis patents recently acquired by its 67% owned subsidiary, Nascent Pharma, LLC.
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.
Date: March 20, 2024
| Can<br> B Corp**.** | |
|---|---|
| By: | /s/ Marco Alfonsi |
| Name: | Marco<br> Alfonsi |
| Title: | CEO |