Tobacco company invests $56.8M in Charlotte’s Web
LOUISVILLE — CBD products company Charlotte’s Web Holdings Inc. (TSE: CWEB) (OTCQX: CWBHF) last week received a $56.8 million investment from London-based British American Tobacco plc (NYSE: BTI).
The investment is a debenture convertible into a non-controlling 19.9% equity stake in Charlotte’s Web.
According to the press release announcing the investment, the funds will provide Charlotte’s Web with incremental capital to fund growth initiatives such as expanding its portfolio of botanical wellness products.
“This Investment will provide Charlotte’s Web with funding that we anticipate will help unlock deeper and broader research and development that is key to our continued innovation, global footprint, and…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!
Related Posts
-
Alchemer LLC, a provider of customer experience and voice-of-the-customer software, has hired Martin Mrugal as…
-
A strategy shift from Louisville-based CBD company Charlotte’s Web Holdings Inc. is beginning to pay…
-
Delo Apartments, a 130-unit apartment building near downtown Louisville, sold this month for $42 million.
-
Louisville-based online used bike retailer The Pro’s Closet will ride off into the sunset, announcing…
