Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - cbdMD, Inc. | ycbd_8k.htm |
EX-10.1 - FORM OF LOCK-UP AGREEMENT - cbdMD, Inc. | ycbd_ex101.htm |
EX-5.2 - OPINION OF GAVIGAN LAW, PLLC - cbdMD, Inc. | ycbd_ex52.htm |
EX-5.1 - OPINION OF PEARLMAN LAW GROUP LLP - cbdMD, Inc. | ycbd_ex51.htm |
EX-4.1 - FORM OF REPRESENTATIVE'S WARRANT - cbdMD, Inc. | ycbd_ex41.htm |
EX-1.1 - UNDERWRITING AGREEMENT - cbdMD, Inc. | ycbd_ex11.htm |
Exhibit
99.1
cbdMD, Inc. Prices Underwritten Public Offering of Common
Stock
CHARLOTTE, NC, January 9, 2020 (BUSINESS NEWSWIRE) – cbdMD,
Inc. (NYSE American: YCBD, YCBD PR A), today announced the pricing
of an underwritten public offering of 16,000,000 shares of its
common stock at a price of $1.00 per share. The company has also
granted to the underwriter a 45-day option to acquire an additional
2,400,000 shares to cover overallotments in connection with the
offering. The gross proceeds to the Company are expected to be
approximately $16,000,000 prior to deducting underwriting
discounts, commissions and other estimated offering expenses, and
assuming no exercise of the overallotment option. The offering is
expected to close on January 14, 2020, subject to customary closing
conditions.
cbdMD intends to use the net proceeds for general working capital
purposes.
ThinkEquity, a division of Fordham Financial Management, Inc., is
acting as sole book-running manager for the offering and The
Benchmark Company, LLC is acting as co-manager for the
offering.
The shares described above are being offered by cbdMD pursuant to a
shelf registration statement on Form S-3 (File No. 333-228773)
previously filed with and subsequently declared effective by the
Securities and Exchange Commission (SEC).
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. A preliminary
prospectus supplement and accompanying base prospectus relating to
this offering have been filed with the SEC and are available
at the SEC’s website at http://www.sec.gov. Before investing,
you should read the preliminary prospectus supplement and the
accompanying prospectus for information about cbdMD and this
offering. A final prospectus supplement related to the offering
will also be filed with the SEC.
Copies
of the final prospectus supplement and accompanying prospectus
relating to the offering, when available, 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.
About cbdMD, Inc.
cbdMD,
Inc. (NYSE American: YCBD) owns and operates the nationally
recognized consumer cannabidiol (CBD) brand cdbMD, whose current
products include CBD gummies, CBD tinctures, CDB topical, CBD bath
bombs, CBD oils 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 proposed public
offering and the intended use of proceeds from the offering. The
offering is subject to market and other conditions and there can be
no assurance as to whether or when the offering may be completed or
as to the actual size or terms of 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 SEC, 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:
cbdMD, Inc.
Mark S. Elliott, Chief Financial Officer and Chief Operating
Officer
(704) 445-3051
Mark.Elliott@cbdmd.com