SEC Filing Summary: Level Brands, Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Level Brands, Inc. (not Cbdmd, Inc.) on November 16, 2017. The registrant is an emerging growth company incorporated in North Carolina. The report details the closing of the Company's Initial Public Offering (IPO) pursuant to Regulation A+.
Key Financial Metrics
- Capital Raised: The Company sold 2,000,000 shares of common stock at an offering price of $6.00 per share.
- Gross Proceeds: The transaction generated gross proceeds of $12,000,000.
- Stock Listing: Common stock was approved for listing on the NYSE American under the symbol "LEVB" commencing November 17, 2017.
- Other Metrics: The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity positions.
Material Changes
The primary material change reported is the transition to a publicly traded entity following the successful closing of the IPO. No comparative financial data or changes versus prior periods are included in this specific filing.
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of the IPO closing and the commencement of trading. The filing includes a press release as Exhibit 99.1. The document explicitly states that the information furnished is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other filings. No specific risks, contingencies, or forward-looking guidance are detailed within the text of this 8-K.
Key Facts for Investor Verification
- Verify the net proceeds after deducting underwriting discounts and offering expenses, as only gross proceeds ($12,000,000) are stated.
- Confirm the exact trading start time and initial market performance on the NYSE American under symbol "LEVB."
- Review the full Form 1-A (File No. 024-10742) for detailed risk factors and use of proceeds not included in this summary.
- Clarify the discrepancy between the requested company name (Cbdmd, Inc.) and the actual registrant (Level Brands, Inc.).