YCBD - cbdMD raises $16.5M via preferred stock offering
cbdMD ([[YCBD]] +2.8%) closed a public offering of its 8.0% Series A Cumulative Convertible Preferred Stock to raise $16.5M in gross proceeds.The company sold a total of 2.2M shares, which includes 286.9K shares sold upon full exercise of the over-allotment option, at $7.50 per share.The cannabidiol products maker intends to use the net proceeds for working capital. ThinkEquity, a division of Fordham Financial Management, acted as representative of the underwriters in the offering. Source: Press Release
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cbdMD raises $16.5M via preferred stock offering