cbdMD, Inc. is launching an underwritten public offering of 1.35 million shares of common stock.

The public offering price is $2.10, and gross proceeds are expected to reach approximately $2.8 million before deducting underwriting discounts, commissions and estimated offering expenses.

Maxim Group LLC is acting as sole book-running manager for the offering.

cbdMD has granted the underwriter a 45-day option to purchase up to an additional 202,500 shares of common stock. The offering is expected to close on May 3, subject to the satisfaction of customary closing conditions.

The public offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-264143) previously filed with the U.S. Securities and Exchange Commission (SEC) on April 5, 2022 and declared effective on April 21, 2022. The shares may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the public offering have been filed with the SEC, will form a part of the effective registration statement and will be available on the SEC's website at www.sec.gov.