Medical Cannabis Pioneer cbdMD Secures $1.2M To Fund Rollout Of Functional Mushroom Products
Portfolio Pulse from Jelena Martinovic
cbdMD, Inc. (YCBD) has secured $1.2M in financing from institutional investors for the national rollout of its new ATRx Labs functional mushroom products. The funds will be used for working capital. This follows the company's introduction of Apple Cider Vinegar and Immunity Gummy Pouches at Sprouts Farmers Market. The financing involves convertible promissory notes with a conversion price of $0.684 per share. cbdMD is expanding its product channels, including a planned launch into Amazon UK in 2024.
February 05, 2024 | 2:06 pm
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cbdMD, Inc. has secured $1.2M for the rollout of ATRx Labs functional mushroom products, with plans for expansion into Amazon UK in 2024.
The secured financing indicates investor confidence in cbdMD's new product line and expansion strategy, potentially leading to increased market presence and revenue growth. The conversion price of the notes suggests a positive outlook on the company's stock value. However, the after-hours price action shows a short-term negative reaction, possibly due to dilution concerns.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100