cbdMD, Inc 8-K, filed Dec 11, 2020
cbdMD, Inc. (YCBD)
8-K
2020-12-11
For: 2020-12-11
View Original
Added on
April 08, 2026
About this 8-K
cbdMD, Inc filed this 8-K on December 11, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 11,
2020
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cbdMD, INC.
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(Exact Name of Registrant as Specified in Charter)
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North Carolina
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001-38299
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47-3414576
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(State or Other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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8845 Red Oak Boulevard, Charlotte, NC 28217
(Address of Principal Executive Offices)(Zip Code)
Registrant's
telephone number, including area code: (704) 445-3060
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not applicable
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(Former Name or Former Address, if Changed Since Last
Report)
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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 (see General Instruction A.2.
below):
☐
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth
company as defined in in Rule 405 of the Securities Act of 1933 (17
CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2).
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Emerging
growth company ☑
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If an
emerging growth company, indicate by checkmark 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. ☐
Securities
registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common
stock
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YCBD
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NYSE
American
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8.0%
Series A Cumulative Convertible Preferred Stock
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YCBDpA
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NYSE
American
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Item
8.01 Other
Events.
On December 11, 2020, cbdMD, Inc. issued a press release announcing
the closing of its previously announced firm commitment
underwriting public offering. A copy of the press releases is
furnished hereto as Exhibit 99.1 and is incorporated herein by
reference.
Item
9.01 Financial
Statements and Exhibits.
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Incorporated by Reference
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Filed or
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No.
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Exhibit Description
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Form
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Date Filed
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Number
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Furnished
Herewith
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Press
release dated December 11, 2020
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Furnished
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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.
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cbdMD,
INC.
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Date:
December 11, 2020
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By:
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/s/ T.
Ronan Kennedy
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T.
Ronan Kennedy, Chief Financial Officer
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Exhibit 99.1
cbdMD, Inc. Announces Closing of $17,250,000 Underwritten Public
Offering
Of Its 8.0% Series A Cumulative Convertible Preferred
Stock
CHARLOTTE, NC, December 11, 2020 (BUSINESS NEWSWIRE) – 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.
Company Contact:
John Weston
Director of Investor Relations
john.weston@cbdmd.com
704-249-9515