logo-loader
Retail & consumerRetail
cbdMD Inc

cbdMD stock slips on public offering

The cannabidiol product producer hopes to raise $12 million at a price of $6 per share

Cannabis plant and jar
The cbdMD brand includes CBD gummies, tinctures, topical, bath bombs, oils and pet products

cbdMD Inc (NYSEAMERICAN:YCBD) shares dipped after the company announced an offering of 2 million shares of stock.

The cannabidiol product producer hopes to raise $12 million at a price of $6 per share, 11% below its friday closing price.

It plans to use the proceeds as general working capital.

READ: Level Brands shares soar after deal to buy CBD brand cbdMD

The offering is expected to close on May 15.

The cbdMD brand includes CBD gummies, tinctures, topical, bath bombs, oils and pet products.

The Charlotte, North Carolina company’s stock tumbled 5.5% to close at $6.40.

--updates share price

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: cbdMD Inc

Price: $4.40

Market: NYSE
Market Cap: $119.75 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Universal mCloud signs AssetCare agreement with Longyuan...

Universal mCloud (TSX-V: MCLD-OTCQB: MCLDF) President of Smart Energy and Capital Dave Weinerth joined Steve Darling from Proactive Vancouver on Skype to talk about a new contract mCloud has signed with a wind farm in China. Weinerth telling Proactive how the deal with Longyuan Construction...

1 hour, 22 minutes ago

2 min read