Stock market today: Dow in fresh record close as Powell signals rate cut incoming
Charlotte’s Web Holdings, Inc. (OTCQX:OTC:CWBHF) announced Monday it has entered into a promissory note to loan $750,000 to DeFloria Inc., a Delaware-based joint venture formed with AJNA BioSciences PBC and a subsidiary of British American Tobacco PLC (LSE:BATS, NYSE:NYSE:BTI). British American Tobacco, currently rated as fairly valued according to InvestingPro analysis, brings significant financial strength to the venture with $11 billion in revenue and a solid current ratio of 1.56. The information is based on a press release statement included in a recent SEC filing.
According to the filing, Charlotte’s Web Holdings acts as lender under the note, which was executed on July 15. The loan and any accrued interest are due upon the later of December 31, 2026, or the date the company issues and sells at least $10 million of newly authorized preferred units or similar securities in a bona fide financing transaction. InvestingPro analysis shows BAT (LON:BATS) maintains a Financial Health Score of ’FAIR’, with an EBITDA of $69.47 million, suggesting stable operational performance. The note outlines that, in the event of default by DeFloria—including failure to pay amounts within three business days of their due date or breaches of obligations under transaction documents—Charlotte’s Web Holdings is entitled to exercise its rights under the agreement.
DeFloria Inc. was formed in April 2023 by Charlotte’s Web Holdings, AJNA BioSciences, and a subsidiary of British American Tobacco. BAT holds 100% equity interest in the preferred units of DeFloria, while Charlotte’s Web Holdings and AJNA each hold approximately 50% of the voting common units.
No additional financial terms were disclosed in the public portion of the filing. The full terms of the promissory note are included as an exhibit to the SEC filing. Charlotte’s Web Holdings is incorporated in British Columbia and has its principal executive offices in Louisville, Colorado.
This report is based on information provided in a press release statement filed with the Securities and Exchange Commission.
In other recent news, Coca-Cola (NYSE:KO) Europacific Partners has been actively engaged in its share buyback program, with several repurchases taking place on both U.S. and U.K. trading venues. The company confirmed that it repurchased thousands of ordinary shares, with transactions occurring on platforms such as NASDAQ and the London Stock Exchange (LON:LSEG). These repurchases are part of a program announced in February 2025, aiming to buy back up to €1 billion worth of shares, and all acquired shares are set to be canceled. Meanwhile, Verses AI has filed its audited annual financial statements for the fiscal year ending March 31, 2025. These filings, which include the Management’s Discussion and Analysis and Annual Information Form, were submitted to Canadian securities regulators and the U.S. Securities and Exchange Commission. Additionally, Riskified (NYSE:RSKD) Ltd. has scheduled its Annual General Meeting of Shareholders for August 6, 2025, in Tel Aviv, Israel, where shareholders will vote on various proposals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.