Mergers & Acquisitions ·
cbdMD completes acquisition of Twinlab assets for $1.75M debt assumption plus ~2.36M shares
YCBDcbdMD, Inc.
cbdMD, Inc. completed the acquisition of operating assets and brands from Twinlab Consolidated Holdings, including Twinlab, Reserveage, Metabolife, and ResVitale, through a Florida assignment for the benefit of creditors proceeding. The consideration consisted of assuming $1.75 million in senior secured debt owed to Akretive Holdings LLC and issuing 2,229,805 shares of common stock valued at $1.00 per share, representing approximately 19.9% of outstanding shares. An additional 132,730 shares may be issued to maintain a target ownership percentage, subject to shareholder approval within 270 days. The transaction diversifies cbdMD's portfolio beyond hemp-derived products into established nutritional supplement categories. cbdMD operates in the wellness industry, marketing CBD and natural health products.