- Charlotte's Web Holdings ( OTCQX:CWBHF ) has announced a $56.8M investment from a subsidiary of BAT, which provides the Co. with incremental capital to fund growth initiatives, including the Co.'s expanding portfolio of botanical wellness products.
- BAT's Investment has been made via a convertible debenture in the amount of $56.8M.
- The debenture is currently convertible into a non-controlling equity stake in Charlotte's Web of ~19.9% and is convertible at BAT's discretion.
- Upon closing of this investment, Charlotte's Web will have pro-forma cash and short-term investments of ~$65M.
- The Investment provides substantial liquidity at an attractive cost of capital for Charlotte's Web.
For further details see:
Charlotte's Web announces $56.8M investment from BAT