Financing ·
Charlotte’s Web Holdings, Inc. closed a subscription agreement with BAT for the purchase of 14,662,765 shares at…
CWBHFCharlotte's Web Holdings, Inc.
Charlotte’s Web Holdings, Inc. closed a subscription agreement with BAT for the purchase of 14,662,765 shares at C$0.94 per share for a total of C$13,873,000. Concurrently, BAT converted its convertible debenture into 95,281,277 shares at C$0.94 per share, resulting in a total holding of 109,944,042 shares, or approximately 40.6% of the company. The companies also entered into an amended and restated investor rights agreement regarding board nominations and other protections.