cbdMD, Inc. announced on January 15, 2025, that it has fully satisfied the accrued interest and principal associated with its Senior Secured Convertible Notes. This milestone means the company is now largely debt-free, excluding accounts payable from normal operations.
The full conversion of the notes into shares of common stock occurred ahead of their maturity date. As of January 14, 2025, the company had 6,262,833 shares of common stock issued and outstanding.
Ronan Kennedy, CEO and CFO, stated that this action has strengthened cbdMD's financial position, enhanced its cash reserves, and provided greater flexibility to allocate capital towards profitable revenue growth. The company remains committed to optimizing its balance sheet and capital structure for sustainable long-term growth.
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